Recent Updates — SID
Companhia Siderúrgica Nacional (CSN) has entered into a binding term sheet with Megasa, the holding company of the Spanish industrial group Megasa, to sell all shares of its German subsidiary Stahlwerk Thüringen GmbH (SWT). The transaction carries an enterprise value of €550 million, subject to customary adjustments. An exclusivity period of up to 10 weeks has been established while definitive agreements are negotiated. This divestment is part of CSN’s ongoing program aimed at reducing leverage. SWT operates a long steel production facility in Germany with an installed capacity of 1.1 million metric tons per year. The company operates in the global steel manufacturing and mining industry.
CSN announced a temporary reduction in lower-grade iron ore production at its Pires Complex due to challenging market conditions and higher freight costs, leading to revised 2026 guidance. The company lowered its production and third-party ore purchase volume forecast from 45.0–47.0 Mt to 39.0–41.0 Mt and increased C1 cash cost estimates from US$22.0–23.5/ton to US$25.0–26.0/ton. This is a material update affecting near-term operational expectations for the integrated steel and mining company.
Companhia Siderúrgica Nacional received a non-compliance notification letter from the New York Stock Exchange on August 13, 2026, due to its American Depositary Shares trading below $1.00 for 30 consecutive days. The company has six months to regain compliance and is evaluating cure alternatives. Since receiving notice, ADS prices have appreciated above the minimum threshold. National Steel Company operates in the steel manufacturing industry.
Companhia Siderúrgica Nacional's Board of Directors approved the election of Mr. Benjamin Steinbruch as Chairman of the Board and announced that Mr. Fabio Schvartsman will assume the position of Chief Executive Officer effective September 3, 2026. This leadership transition represents a significant change in executive management for the company. The company operates in the steel manufacturing industry.