Marcelo Haze's questions to Companhia Siderurgica Nacional SA (SID) leadership • Q1 2025
Question
Marcelo Haze from BTG Pactual questioned the visibility on potential steel capacity renovations in China and its medium-term impact on the industry. He also asked about the drivers for expected margin improvements, whether from price or demand.
Answer
An executive (Martinez) expressed hope that reports of Chinese production cuts are true, as even a minor reduction could significantly improve the market dynamic and margins. For cement, he noted a 3% price increase last month and strong demand from housing programs. Executive Edvaldo Rabelo added that despite momentary cost pressures, the company is confident in recovering prices and aims to surpass a 30% EBITDA margin in cement in the coming months.