CSN Mining News

Glencore nears $500m deal to buy iron ore from Brazil's CSN – sources

CSN is aiming to reduce debts that piled up after an iron ore and steel price rout in 2015-2016 and a severe recession in Brazil, prompting investors to demand asset sales.

CSN profits up 38%, misses analyst estimates

CSN, Brazil's largest diversified steel group, said on Tuesday that net income jumped 38 percent in the first quarter from a year earlier thanks to robust sales of iron ore and lower sales costs. Sao Paulo-based CSN (CSNA3.SA)(SID.N) earned 616 million reais ($390 million) in the period, up from 447 million reais a year earlier, according to a securities filing. But this fell short of the 697 million reais profit estimate by five analysts in a Reuters poll.