Sao Paulo, Brazil-based iron ore mining company and flat rolled steel producer Companhia Siderurgica Nacional (CSN) has announced its financial results for the second quarter of 2013.
In the second quarter, CSN registered a net income of R$502 million (US$218.5 million), compared to a net loss of R$1 billion in the corresponding quarter of the previous year. Net revenue increased by 14 percent year on year to R$4.06 billion (US$1.76 billion) in the second quarter this year and up 11 percent compared to the previous quarter mainly due to increased revenue from the mining and steel segment. Revenues from CSN's steel operations increased by 18.7 percent year on year to R$3.14 billion (US$1.36 billion).
According to CSN's statement, the company produced 1.2 million mt of crude steel in the second quarter, almost unchanged compared to the corresponding quarter of the previous year, while its rolled steel output stood at 1.2 million mt, up 3.4 percent year on year. In the given period, CSN's steel sales volume increased by 14.2 percent year on year to 1.6 million mt, while the company's own iron ore consumption amounted to 1.5 million mt.
