CSN Mineracao cuts 2026 iron ore output outlook, lifts cash costs on higher freight expenses

Brazilian iron ore producer CSN Mineracao has lowered its 2026 forecast for production volume and third-party ore purchases to 39.0-41.0 million tons from a previous range of 45.0-47.0 million tons.

The revision responds to higher freight expenses driven by rising costs. As a result, the company has temporarily curtailed low-grade ore operations at the Pires complex dry processing plant in Ouro Preto, Minas Gerais, noting the move is reversible if market margins improve.