Brazilian steel and mining company Companhia Siderúrgica Nacional (CSN) posted a net loss of $220.369 million in the third quarter of 2026, compared with a profit of $13.105 million a year earlier.
Revenue fell 11.1% to $1.852 billion, while operating profit dropped 66.8% to $100.963 million. Financial expenses were the main factor behind the loss, totaling $240.549 million despite declining 5.6% year on year. The company attributed the expenses to high interest rates on its debt.
Domestic steel sales rose 5.8% to 826,000 metric tons, and exports increased 10% to 305,000 tons. Domestic iron ore sales climbed 30.8% to 1.278 million tons, while exports fell 9.2% to 10.373 million tons.
CSN’s net debt stands at $7.94 billion, or 4.23 times trailing 12-month EBITDA. The company recently sold its cement division to China’s Huaxin Building Materials Group to reduce debt. The sale of German long steel producer SWT to Spain’s Megasa is reportedly in its final stages. Figures were converted from Brazilian reais at BRL 5.66 per US dollar.
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