Brazilian steelmaker CSN is considering the sale of its Lusosider flat steel subsidiary in Portugal to reduce debt levels, chief executive officer Benjamin Steinbruch said on Tuesday May 15.
The decision to divest the facility is also motivated by the European Union's establishment of anti-dumping duties against Brazil-origin hot-rolled coil (HRC). Tariffs assigned to CSN amount to ?,?53.40 ($63.87) per tonne."The asset is still profitable, but due to this duty it does not make sense for us to export HRC [to feed the Lusosider subsidiary]," Steinbruch said.Lusosider...