SID Companhia Siderurgica Nacional

$SID Brazilian steel and iron-ore group CSN signed a binding term sheet to sell German mill Stahlwerk Thüringen (1.1M t/yr) to Spain's Megasa at a €550M enterprise value. CSN calls the sale another step in its divestment program to cut leverage. Other side: €550M is enterprise value subject to adjustments, not cash, and CSN gives up a mill it bought in 2012 to grow long steel. Exclusivity runs up to 10 weeks (to about Dec 18); definitive agreements and conditions still needed.

$SID Ugly selloff. I wouldn't be concerned if volume was low, but almost 13 million shares traded is not making this look promising. We need news of the Cimientos sale soon!

$SID Crazy that this is my only red stock today. Can't wait for news on the Cimientos sale!

$SID well I don't think there will be any news about the cement this month... the deal is still in the works (my guess).

$SID heavy volume today - someone must have been shorting from $1.40 down to 1.00 knowing this info - probably covering now

$SID cut its lower-grade iron ore production and revised 2026 guidance on volume and cash cost.

$SID What do you think of this? "Brazil votes on October 4, with a possible runoff on October 25. I looked at how Brazilian assets reacted after the last three presidential runoffs. The takeaway: the candidate favored by investors winning did not guarantee a rally. In 2018, EWZ fell the next trading day after Jair Bolsonaro’s victory; in 2022, it rose after Lula’s. Over longer periods, company and sector fundamentals mattered more. Vale’s strong performance after the 2022 election, for example, coincided with China’s reopening. For SID, the election may move Brazilian stocks and the real, but iron ore, Chinese steel prices, debt and the potential sale of CSN Cimentos are likely to matter more. I wouldn’t treat the election result alone as a price target."

$SID I was thinking that SID should protect itself from falling below $1. CSN reported that the NYSE notified it in August of non-compliance with the minimum average price requirement of $1 for its ADR. The notification does not imply immediate delisting, and the company has a period to regain compliance, but it could increase pressure if the price falls below 1 dollar again.

$SID I hope whatever needs to be sold sells soon, because I want to go on vacation with the money I make from it.

$SID They raised prices due to higher energy costs, lowered production due to higher energy costs. This offsets largely as one goes up, other goes down. Expected from oil prices up so much in past 2 months.

$SID Are they purposely waiting to announce the sale of Cimientos SA until after the presidential election? If Bolsonaro wins the stock will pump so hard with the news!