Emerson's questions to Companhia Siderurgica Nacional SA (SID) leadership • Q1 2025
Question
Emerson asked about the outlook for cash generation in the coming quarters and its potential contribution to deleveraging. He also inquired about the current feeling for steel demand in April, particularly from key clients.
Answer
An unnamed executive stated that positive cash generation is expected to begin in Q2 and strengthen in Q3 and Q4, driven by seasonal improvements across all segments, which will support natural deleveraging. Another executive commented on demand, noting that apparent consumption grew 7% in Q1. He expects demand to remain strong in Q2, with some sectors like agricultural implements showing a resumption, though high interest rates still temper growth in areas like white goods.