Brazil · STEEL

Key Facts

—What happened XP estimates CSN needs R$41.4 billion (US$8.13 billion) cash from Q3 2026 to 2030.

—How big That is over five times CSN’s market value of R$7.8 billion (US$1.53 billion).

—The catch Most of the need is at mining unit CSN Mineração, not the steelmaker.