Brazilian steelmaker Companhia Siderurgica Nacional (CSN) has closed another iron ore supply deal with Glencore, the company said on Friday.
Glencore will make a payment of $250 million for a further 10 million mt iron ore supply, which should be delivered in a five-year timeframe. The payment will be made as soon as certain conditions are met, CSN said, adding that the deal reflects CSN’s improved financial metrics.