CSN Mineracao stock absorbs a 2026 output guidance cut
Published on 09/30/2026 at 18:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
CSN Mineracao stock is absorbing a sharp reset to its 2026 operating outlook under ISIN BRCMINACNOR2. The miner now expects production and third-party purchases of 39 million to 41 million tonnes after a September 29, 2026 decision to reduce low-grade processing at the Pires complex.
Output guidance falls by 6 million tonnes
According to Valor on September 29, 2026, the new production and purchase range of 39 million to 41 million tonnes replaces the earlier range of 45 million to 47 million tonnes. The midpoint therefore falls from 46 million tonnes to 40 million tonnes, a reduction of 6 million tonnes.
The revision follows a temporary reduction in low-grade iron ore activity at the dry-processing plant in Pires, Ouro Preto. Valor reported that tighter market conditions and higher freight costs pressured the economics of this material, while the company said the measure could be reversed if margins improve.
C1 cost guidance moves higher
El Fondo reported that CSN Mineracao raised its 2026 C1 cash cost projection to USD 25 to USD 26 per tonne from USD 22 to USD 23.50. The upper end of the range is therefore USD 2.50 per tonne higher than before, making cost control the key counterweight to the lower volume outlook.
Financial figures add a recent operating benchmark. Investing.com reported latest-quarter revenue of BRL 3.6 billion and net income of BRL 219.6 million, compared with BRL 3.7 billion and BRL 222.4 million in the previous quarter.
Market value remains the reference point
On B3, CSN Mineracao was trading at BRL 4.87 at 12:55 p.m. BRT on September 30, 2026, with a 52-week range of BRL 4.08 to BRL 7.07. The quote was 2.31 percent above the prior B3 close of BRL 4.76, providing a market snapshot as investors weighed lower volume against higher unit costs.
Market capitalization is BRL 26.5 billion
CSN Mineracao's market capitalization was BRL 26.5 billion as of September 30, 2026. The combination of a 6-million-tonne midpoint reduction and higher C1 guidance leaves the operating outlook more sensitive to freight rates and realized iron ore margins.
CSN Mineracao key facts
- Company: CSN Mineracao S.A.
- ISIN: BRCMINACNOR2
- Ticker: CMIN3
- Primary exchange: B3
- Market capitalization: BRL 26.5 billion (as of September 30, 2026)
- 52-week range: BRL 4.08-BRL 7.07 (as of September 30, 2026)
- Sector / Industry: Basic Materials / Steel
