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CSN Mineração cuts iron ore output, and CSN and CSN Mineração shares plunge
CSN Mineração cut its expected 2026 iron ore output, and shares of parent CSN fell 9.85% and CSN Mineração 5.74% on B3 on September 29, according to InfoMoney and Bloomberg Línea. Bloomberg Línea links the cut to soaring sea freight. According to InfoMoney, the new output forecast fell from 45 to 47 million tonnes to 39 to 41 million, with higher cost per tonne.