Excellent scenario for Brazil’s CSN, says investment firm

Tuesday, 12 January 2021 21:52:46 (GMT+3)   |   Sao Paulo

Investment brokerage firm Planner said in a report this week that Brazilian steelmaker Companhia Siderurgica Nacional (CSN) is currently experiencing “an excellent momentum” due to increasing steel and iron ore prices.

The report said CSN’s positive momentum is also fueled by a likely increase in demand for steel and iron ore, which increase the prospects of reduced debt for the company, as well as the proposed IPO of its mining business.

“All these (factors) will lead to an expressive increase of (the steelmaker’s) profitability with reduced debt, which has always been a risk for the company,” the report said.

Citing data from Brazil’s steel association, IABr, Planner said domestic steel sales in Brazil should increase 5.3 percent in 2021, as compared to 2020.

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