The sale of Usiminas shares will help CSN meet its goal of reducing its debt to three times EBITDA this year, CEO Benjamin Steinbruch and other executives said in an interview with analysts.
CSN could raise R $ 3 billion from the sale of assets such as Usiminas shares and is in the final stages of selling its German SWT unit, executives said.
According to Steinbruch, the company is close to a $ 1 billion contract to ship iron ore and plans to invest $ 1.5 billion this year and slightly more next year, depending on its leveraged cut.
The steel market is in decline in the domestic steel market in Brazil in the first quarter, but expects a rebound in the second quarter, executives said.
On March 25, CSN will increase steel prices another 10-15 percent after rising 6-9 percent last month, commercial director Luis Martinez said. He predicts that steel sales in Brazil will grow at least 10 percent this year.
