CSN sees Brazilian steel demand stable at pre-Covid levels

Wednesday, 15 September 2021 19:50:34 (GMT+3)   |   Sao Paulo

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) sees domestic steel demand now stable at pre-Covid levels, according to a media report by Valor.

CSN expects domestic steel prices to remain stable in the short-term. Domestic steel prices should still sustain high margins for the company in the next 18 to 24 months, the media report said.

Caio Ribeiro, analyst at Credit Suisse, said CSN expects iron ore prices to remain above $100/mt in 2022, as the Chinese market has been fueling the local civil construction market.

Ribeiro noted CSN is reportedly mulling opportunities in the energy sector, a new galvanized product line as well as the expansion of its iron ore business by 20 million mt between 2024 and 2025.

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