Ricardo Monegala's questions to Companhia Siderurgica Nacional SA (SID) leadership • Q2 2025
Question
Ricardo Monegala from Sattra inquired about the impact of recent anti-dumping decisions on coated and hot-rolled products and questioned the outlook for margin expansion in the steel segment, given the challenging market.
Answer
An executive, Martinez, described the import situation as "chaotic" and noted that while technical grounds for anti-dumping exist, government action has been slow. He explained that CSN's "value over volume" strategy, focus on higher-value products, and cost controls led to a strong 10.8% EBITDA margin in steel. He sees potential for price recovery in Q3, aided by cost reductions and potential changes in the Chinese market.