Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Companhia Siderúrgica Nacional’s (CSN’s) slab output increased by 6.6pc to 913,000mt in Q2 2020, from 856,000mt in the same period last year, while its long steel production decreased by 3.5pc to 54,000mt during the same period.


However, the company did not disclose its total iron ore or steel production volumes in its earnings statement released on July 28.


The Brazilian steelmaker’s total steel sales in Q2 2020 fell by 14pc to 1mn mt, from 1.16mn mt in Q2 2019, due to weak domestic demand on account of the COVID-19 pandemic. Its iron ore sales also declined by 24pc to 7.7mn mt in Q2 2020, from 10.1mn mt in the same quarter last year.


The company posted a net profit of BRL446mn ($86.3mn) in Q2 2020,  down from BRL1.89bn in the same quarter last year, while its net revenue fell by 10pc to BRL6.2bn from BRL6.9bn  during the same period. The firm’s EBITDA fell to BRL1.9bn in Q2 2020 from BRL2.3bn in Q2 2019.


CSN’s net revenue from only its steel products reached BRL3.4bn in the second quarter down by 5.5pc from BRL3.6bn in Q2 2019, while net revenue from its mining products in Q2 2020 reached BRL2.6bn, down by 15.8pc from BRL3.09bn in the same quarter last year.


Its adjusted EBITDA from only steel products reached BRL324mn, in Q2 2020 down from BRL225mn in the same quarter last year, while the adjusted EBITDA from its mining products stood at BRL1.4bn, down from BRL2bn during the same period under comparison.



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