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CSN unit declares force majeure amid truckers' strike in Brazil

Cia. Siderúrgica Nacional's iron ore production unit declared force majeure due to an ongoing truckers' strike, which is affecting Brazil's south where the company has operations, S&P Global Platts reported May 29.

"In addition to the lack of inland transportation itself, the consequences of the foregoing have been and continue to be the lack of raw materials and other inputs, production reduction or even possible stoppage, among others," the company's CSN Mineracao unit said May 28.

The company cited impact to its production and logistics capacity in fulfilling contractual obligations as reasons to declare force majeure.

The Brazilian company supplies iron ore to its integrated steel mill in the Rio de Janeiro state and exports the material to customers globally.

S&P Global Market Intelligence and S&P Global Platts are owned by S&P Global Inc.