CSN can stop blast furnace

S&P Global reported that Brazilian steelmaker Companhia Siderurgica Nacional said it could shutdown its blast furnace # 2 at the Volta Redonda steel mill due to weak demand and sufficient inventory to cover sales by the end of the year.

CSN CEO Benjamin Steinbruch said: “From a production standpoint, it makes sense to stop. It makes sense because it will allow us to sell more iron ore, use less pellets and be less dependent on external coke. ”

CSN expects steel production costs to decrease if blast furnace # 2 is shut down, as blast furnace # 3 underwent a major overhaul last year, resulting in lower operating costs.

Blast furnace # 2 accounts for 30% of the company’s 5.6 million tonnes of steel, while furnace # 3 accounts for 70%.

While steel demand is weak due to weaker car sales and slow demand for home appliances, CSN plans to raise steel prices by 10-12% in June in Brazil, given the significant devaluation of the Brazilian real against the US dollar this year. [: ]

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