Brazil's Gerdau reported contradictory Q2 2024 performance with revenue climbing 5.5% to R$17.53 billion while adjusted net profit dropped 8.6% to R$152.6 million. The steelmaker froze major Brazilian investments, redirecting strategic focus toward European markets amid domestic market saturation. Despite challenges, the company maintained R$2.6 billion adjusted EBITDA & shipped 2.8 million metric tons of steel, demonstrating operational resilience while navigating geographic diversification strategies.