Sao Paulo-Brazil-based steelmaker Companhia Siderurgica Nacional SA (CSN) has continued to buy stock in rival flat-rolled steelmaker, Belo Horizonte, Brazil-based Usinas Siderurgicas de Minas Gerais SA (Usiminas). CSN currently owns approximately 10 percent of the shares of Usiminas.
CSN began buying shares in Usiminas in January, and reached a 10 percent stake in its rival on April 20. CSN has previously said that it is mulling raising its stake Usiminas to level where it could have an effect on Usiminas' management organization.