BUSINESSTHE RIO TIMES
Steelmaker CSN Cuts Its Loss to $109 Million as Cheap Chinese Steel Floods Brazil
Companhia Siderúrgica Nacional (CSN), the group behind Brazil's Volta Redonda steelworks, reduced its quarterly net loss by 24.2% to R$555 million ($109 million) but remains in its third consecutive year of losses. The decline is attributed to cheap Chinese steel flooding the Brazilian market.
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