Companhia Siderurgica Nacional ADR

Companhia Siderúrgica Nacional (CSN) is a diversified Brazilian industrial conglomerate operating across five business segments: steel, mining (iron ore), cement, energy, and logistics. In steel, CSN operates the Presidente Vargas Steelworks (UPV) producing flat rolled and long steel products, with international subsidiaries SWT, LLC, Lusosider, and Gramperfil serving export markets. The mining segment, operated through subsidiary CSN Mineração, produces and exports iron ore primarily to China via the TECAR port terminal. CSN Cimentos operates cement plants across Brazil with a strategy of prioritizing value over volume. The energy segment includes hydroelectric power generation assets including the Jacuí plant (CEEE-G). The logistics segment encompasses rail logistics (including a 37.49% stake in MRS Logística), multimodal logistics (Tora Group), and port operations (TECON). CSN serves diverse end markets including automotive, white goods, packaging, and civil construction. The company trades on B3 (CSNA3) and NYSE (SID as ADRs), and reports under both Brazilian GAAP (CPC) and IFRS standards. CSN faces significant leverage challenges with net debt of approximately R$42 billion and is actively pursuing liability management, asset sales, and operational efficiency improvements to address its capital structure. Updated Aug 13, 2026