trending Market Intelligence /marketintelligence/en/news-insights/trending/lbj549f1xm2_osayca6hnq2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

CSN targeting over US$900M of asset sales in 2018

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Report Outlooks of Lithium and Cobalt

Essential Metals & Mining Insights July 2020


CSN targeting over US$900M of asset sales in 2018

Cia. Siderúrgica Nacional, or CSN, is looking to conclude asset sales of 2 billion to 3 billion Brazilian reais, or between US$600 million and US$901 million, this year to slash its debt, Reuters reported March 27, citing CEO Benjamin Steinbruch.

The executive did not go into detail on potential assets that could be off-loaded, but sources said that the company could sell its interest in rival steelmaker Usiminas Siderurgicas de Minas Gerais SA.

In February, director Luis Fernando Martinez said that CSN may opt to sell off its assets to further shed debt, but is not under pressure to do so as iron ore prices appreciated and it reached a deal with major creditor Banco do Brazil SA to outline the main terms of extending debt maturities.

Steinibruch predicted that revenues would rise 20% this year and for its debt-to-EBITDA ratio to be at 3.5x by 2019.

The company will also seek to improve its earnings by raising steel prices in Brazil, the Reuters report cited Martinez as saying, adding the steelmaker will raise prices by 7.5% in June. During the first quarter, CSN’s average prices will increase by between 6% and 10%.

The Brazilian steelmaker swung to a profit of 111.2 million reais for full-year 2017, from a loss of 853.1 million reais in 2016.

As of March 27, US$1 was equivalent to 3.33 Brazilian reais.