Snapshot: Brazilian steelmaker CSN's output of iron ore fall 7% in 2017

SHANGHAI, Apr 12 (SMM) – Production of iron ore at Brazilian steelmaking giant Companhia Siderurgica Nacional (CSN) in 2017 fell 7%, on the year, and stood at 29.9 million mt.

Output of 6.4 million mt in the fourth quarter of 2017 fell 18% from the third quarter. CSN sold 32.57 million mt of iron ore last year, down 17% from 2016. Approximately 27.63 million mt of iron ore sold last year were sold to third party buyers. CSN's net profits from iron ore in 2017 gained 1% and stood at 4.62 billion reais ($1.37 billion).

The impact of weaker sales was offset as prices of iron ore grew 22% in 2017.

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