Companhia Siderúrgica Nacional’s (CSN’s) total steel sales in Q3 2020 rose by 19pc to 1.27mn mt, from 1.07mn mt in the same quarter last year.
The Brazilian steelmaker attributed these inclines to higher consumption of galvanized products in the foreign markets and a recovery in the domestic market after the COVID-19 related shutdowns.
The company’s iron ore sales were slightly down at 9.16mn mt in Q3 2020, from 9.20mn mt in the same period last year, CSN indicated in its earnings statement on Oct 15.
The company’s slab output increased by 118.1pc to 781,000mt in Q3 2020, from 358,000mt in the same prior-year quarter, while tin plates production increased by 7.4pc to 822,000mt from 765,000mt, and long steel production rose by 3.7pc to 56,000mt in Q3 2020, from 54,000mt during the same period under comparison.
The company posted a net profit of BRL1.26bn ($226.2mn) in Q3 2020 compared with a net loss of BRL870.6mn in Q3 2019, while its net revenue increased by 40pc to BRL8.7bn in Q3 2020, from BRL6bn in Q3 2019. The company’s adjusted EBITDA reached BRL3.50bn in the third quarter from BRL1.56bn in Q3 2019.
CSN invested BRL459mn in Q3 2020 in reliability and safety projects in its steel and mining units, down by 24.7pc from BRL610mn invested in the third quarter last year.