CSN

Latin American steel stocks increased due to reduced cheap Chinese imports and stable tariffs. Companies like SLX, Gerdau, CSN, and Ternium saw gains despite softness in construction and auto sectors.

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.

A dust cloud over Congonhas, Brazil, caused a temporary shutdown of four iron-ore mines, including operations by Vale and CSN, which are responsible for most of the town's pollution.

Ibovespa closed at a one-month high of 174,070 on 3 July 2026, driven by gains in CSN and steelmakers, while VALE3 and BTG led turnover. The USD/BRL exchange rate weakened to 5.1682.

China’s state iron-ore buyer, CMRG, is negotiating with Brazil’s CSN to become an exclusive sales agent for some of its iron-ore cargoes. CSN produced approximately 45.5 million tonnes of iron ore last year, and CMRG is shifting its focus from major suppliers to a mid-tier provider.

A Chinese company is the leading bidder for CSN's cement unit, but the transaction faces opposition from Holcim, a major shareholder of CSN, which has indicated it will not support the bid. The article highlights internal resistance to the potential acquisition by a Chinese entity.

CSN, one of Brazil's biggest steelmakers, is selling its cement arm, the country's second-largest cement producer, with the sale price now reported above R$12bn. Three of China's largest cement companies are among the bidders.