Companhia Siderúrgica Nacional

SID: 6-K · other

CSN Mineração, a subsidiary of Companhia Siderúrgica Nacional (B3: CSNA3; NYSE: SID), announced a temporary reduction in lower-grade iron ore production at the Pires Complex dry processing plant in Ouro Preto, Minas Gerais, citing more challenging market conditions and higher freight costs. As a result, CSN revised its 2026 production and third-party ore purchase volume guidance down from 45.0-47.0 Mt to 39.0-41.0 Mt, and raised its 2026 C1 cash cost guidance from US$22.0-23.5/ton to US$25.0-26.0/ton. The company said the production cut may be reversed at any time with no material impact if margins for lower-grade ore improve, and that the revised figures are estimates subject to further change.

SEC 6-K•27d ago

SID: 6-K · delisting

Companhia Siderúrgica Nacional (CSN) disclosed in a notice to the market that on August 13, 2026 it received a non-compliance notification from the NYSE because the average closing price of its American Depositary Shares was less than $1.00 per ADS over a consecutive 30-trading-day period, breaching Section 802.01C of the NYSE Listed Company Manual. The notice does not trigger an immediate delisting: CSN has six months from receipt of the notice to regain compliance with the minimum share price requirement, has formally notified the NYSE of its intention to cure, and is actively evaluating all available cure alternatives. CSN adds that its ADSs have appreciated since the NYSE correspondence and are currently trading above the US$1.00 threshold, easing near-term delisting risk, though the company must still sustain compliance through the end of the cure period.

SEC 6-K•1mo ago

SID: 6-K · periodic report

Companhia Siderúrgica Nacional (CSN) filed its Q2 2026 interim financial statements on Form 6-K, reporting consolidated net revenue of R$21.91 billion for the first half of 2026, up roughly 1.4% year over year, with Q2 revenue of R$11.31 billion up 5.7%. Losses widened sharply despite stable top line. The attributable net loss for the six months reached R$1.41 billion versus R$785 million a year earlier, and the Q2 attributable loss of R$794 million was nearly five times the R$166 million loss in Q2 2025, or R$0.59884 per share. The balance sheet remains heavily leveraged: gross borrowings of R$53.37 billion against R$13.63 billion in cash, net financial expenses of R$3.15 billion for the half, and operating cash flow still negative at R$671 million, though improved from the prior year. For CSN holders, the key watch items are the interest expense trajectory against cyclical steel and iron ore prices and the pending TCU review of the Sepetiba Tecon port lease renewal, which management expects to conclude in late 2026.

SEC 6-K•1mo ago

Announcement of Final Results of Private Exchange Offer for CSN Inova Ventures’ Outstanding 6.750% Senior Notes due 2028 and Consent Solicitation

CSN announced the final results of its subsidiary's private exchange offer, with 77.49% of the outstanding 2028 Notes validly tendered. Holders will receive a mix of cash and new 11.000% Senior Notes due 2030 in exchange for the existing 6.750% Notes, effectively extending maturities at a significantly higher interest rate. The company expects to pay approximately US$255.7 million in cash and issue roughly US$698.3 million in new notes to settle the transaction on August 12, 2026.

•2mo ago

Announcement of Private Exchange Offer for Any and All of CSN Inova Ventures’ Outstanding 6.750% Senior Notes due 2028 and Consent Solicitation

CSN's subsidiary, CSN Inova Ventures, commenced an exchange offer for its $1.3 billion outstanding 6.750% Senior Notes due 2028, offering holders new 11.000% Senior Notes due 2030 plus cash. The exchange consideration totals $1,000 per $1,000 principal tendered, consisting of $746.15 in new notes and $253.85 in cash, with the new interest rate stepping down to 10.500% if total principal is reduced by at least $200 million before 2028. The offer requires a minimum of 70% participation ($910 million) to proceed and is scheduled to expire on August 10, 2026.

•2mo ago

SID: 6-K · periodic report

Companhia Siderúrgica Nacional (CSN) reported a net loss of R$555.0 million for the three months ended March 31, 2026, an improvement from the R$731.6 million loss in the prior-year period. The company's net revenue decreased by 2.8% year-over-year to R$10,603.8 million, primarily due to lower revenue in the mining and steel segments, partially offset by growth in cement, logistics, and energy. The cement segment was a standout performer, with net revenue increasing 14.0% and gross profit rising 47.0% due to price increases and a favorable commercial environment. Conversely, the steel and mining segments faced challenges including price pressure from imports, a stronger Brazilian real, and heavier rainfall impacting production and logistics. The company continues to manage its capital structure, ending the quarter with R$12.8 billion in cash and cash equivalents and Gross Debt of R$50.4 billion. CSN also announced preliminary results for the six months ended June 30, 2026, expecting an Adjusted EBITDA between R$5.3 billion and R$5.4 billion and a net loss between R$1.3 billion and R$1.4 billion.

SEC 6-K•2mo ago

SID: 6-K · periodic report

Companhia Siderúrgica Nacional (CSN) reported a net loss of R$555 million for the first quarter of 2026, widening from the R$731 million loss recorded in the same period of 2025. The deterioration was primarily driven by high financial expenses of R$1.54 billion, which significantly outweighed financial income of R$327 million, reflecting the heavy cost of servicing its substantial debt load in a high-interest-rate environment. Consolidated net revenue for Q1 2026 stood at R$10.6 billion, a slight decline of approximately 2.8% compared to R$10.9 billion in Q1 2025. Gross profit remained relatively stable at R$2.52 billion, but operating expenses increased to R$2.23 billion from R$1.64 billion year-over-year, compressing margins. The company reported a basic and diluted loss per share of R$0.42. The filing details the integration of several recent acquisitions, including the R$752.5 million purchase of Grupo Estrela (logistics) and smaller steel processing firms Galvacolor and Gramperfil. These acquisitions are part of CSN's strategy to vertically integrate its logistics and expand its steel processing capabilities, though they have added to the company's goodwill and debt obligations. Total borrowings and financing stood at R$50.4 billion as of March 31, 2026.

SEC 6-K•4mo ago

SID: 6-K · periodic report

National Steel Company (CSN) reported a net revenue of R$ 10,603.8 million in 1Q26, a decrease of 7.0% quarter-over-quarter and 2.8% year-over-year. This decline is attributed to seasonal factors, including heavier rainfall, and the impact of exchange-rate fluctuations on mining revenue and a less favorable product mix in the steel segment. The company's gross profit was R$ 2,522.7 million, with a gross margin of 23.8%, a decline of 8.4 percentage points quarter-over-quarter. The decrease in gross margin is primarily due to higher costs of goods sold, which increased by 4.5% quarter-over-quarter, and the impact of exchange-rate variations on U.S. dollar-denominated costs. CSN reported a net loss of R$ 555.0 million in 1Q26, an improvement from the losses in the previous quarter and the same period in 2025. The improvement is mainly due to the increase in tax losses, which provided a deferred tax benefit. Free cash flow was negative by R$ 1,597.7 million in 1Q26, a deterioration from the previous quarter. The main drivers of this cash outflow were seasonality, working capital consumption, elevated financial expenses, and significant debt amortization. Despite this, the company remains committed to reducing its gross debt through the asset sale program and has already signed a bridge loan of US$ 1.2 billion with a potential expansion to US$ 1.4 billion.

SEC 6-K•5mo ago