Brazilian steelmaker CSN is considering expanding its operations in the North American market, but will not bid to acquire US Steel. Executive chief Benjamin Steinbruch stated that the company is not interested in the US Steel market and is focused on diversifying its business in the US with smaller acquisitions.
The company's steel exports to the US are currently limited by its Volta Redonda plant capacity and measures adopted by former President Donald Trump's administration in 2018. Steinbruch emphasized the importance of maintaining high demand for Brazilian raw materials in the Asian market and avoiding selling ore to China to become the main steel exporter for Brazil. He also emphasized the need for the Brazilian government to take urgent measures to protect the steel industry.