Brazilian steelmaker Companhia Siderurgica Nacional (CSN) said it is still looking to sell its assets, and according to the company’s CEO, Benjamin Steinbruch, there should soon be news regarding the issue.
While speaking at a panel at the Brazil Steel Congress, Steinbruch warned that Brazilian steel assets shouldn’t be sold for cheap. “If we change the perception over the country risk in Brazil, those assets [could] double or triple their prices,” he noted.
The executive signaled the sale of assets will result from the higher offer, from a Brazilian or a foreign company, since there are “appropriate” conditions for a sale.
Additionally, the executive said CSN has continued maintenance in “all equipment” of its No. 2 blast furnace, located at its Presidente Vargas mill in the city of Volta Redonda in the state of Rio de Janeiro. The maintenance should take between 90 and 120 days.
The executive said he couldn’t determine when the equipment should be restarted, since the restart will depend on market conditions.