In the third quarter of 2018, CSN's iron ore production reached 7.6 million tons, up 13% month-on-month
2018 11/16
On nov 08, CSN released its third-quarter production and sales report for 2018:
CSN's iron ore production totaled 7.6 million tons in the third quarter, up 13 percent from the second quarter, mainly thanks to the successful implementation of the mining plan and the successful launch of the first filtering facility.
In the third quarter, CSN purchased 1.5 million tons of iron ore from third parties, down 20% from the second quarter.
In the third quarter, CSN's iron ore sales totaled 9.29 million tons, up 14% from the second quarter and 17% from a year earlier. Domestic sales totaled 1.14 million tons, down 17% from the second quarter and 14% from a year earlier. The rest are sold to Asian and European markets.
Since the second quarter, the global supply of high-silicon iron ore has declined, leading to a sharp reduction in the market discount for high-silicon mines in the third quarter. On the other hand, CSN has a $2.10 per dry tonne premium due to the low aluminium content of iron ore produced in the casad pedra region and the improved grade of iron.
In the third quarter, CSN's adjusted earnings before interest and tax (EBITDA) were 16.27 million reais, up 34% year-on-year and up 15% month-on-month.
CSN's free cash flow reached 840 million reais ($220 million) in the third quarter, up 110 million reais ($30 million) from 77.3 billion reais ($190 million) in the second quarter.