Brazil’s steelmaker Companhia Siderurgica Nacional (CSN) plans to double its steel sales at its US facility from 300,000 mt to 600,000 mt, an executive said.
According to CSN’s commercial director, Fernando Martinez, the Brazilian steelmaker plans to benefit from valued US dollar currency over the nation’s Real. As of March 13, the US dollar hit a new record in 10 years, reaching BRL 3.28.
“With US dollar at BRL 3.15 (as of Thursday), I want to sell steel in US dollar too. We have operations in the US, where we can work as local players. Our intention is to duplicate our sales at the CSN LLC mill in the US,” the executive told media.
According to the executive, about 81 percent of the steel sold at the Terre Haute, Indiana location is coated steel. The strategy of increasing US sales includes supplying CSN LLC with steel made in Brazil.