CSN Mineração reduces iron ore production amid rising freight costs

CSN Mineração has announced a temporary reduction in the production of lower-quality iron ore at its Pires Complex Dry Beneficiation Plant in Ouro Preto, Minas Gerais. This decision is driven by rising maritime freight costs and tightening profit margins, which make transporting lower-value products less economically viable.

As a result of this production shift and lower expected volumes of third-party ore purchases, the company has revised its 2026 production and purchase projections downward. The previous estimate of 45 million to 47 million tons has been lowered to a range of 39 million to 41 million tons, representing a reduction of approximately 6 million tons.

Additionally, CSN Mineração raised its C1 cash cost guidance from US$ 22–US$ 23.50 per ton to a new range of US$ 25–US$ 26 per ton. The company noted that these measures are temporary and subject to market conditions. CSN Mineração joins Mineração Usiminas and Itaminas as the third major miner in the state to scale back operations in September due to logistical pressures.