Brazil's Rio de Janeiro state environment agency Inea plans to
announce a fine to local steelmaking group Cia Siderúrgica
Nacional SA for failing to comply with terms
of an accord to clean up an oil spill in 2010, the agency said
on its website late on Tuesday. The accord was signed between
the company, known as CSN, and Inea in the wake of a massive oil
spill in the Paraíba do Sul river, the agency added.
In a report, Deutsche Bank Securities analyst Rodrigo Barros
said that "will wait for further information on this fine and
the possibilities of a new agreement before making any
adjustment to our CSN's forecast and price target." Currently
Deutsche Bank has a "hold" recommendation on U.S.-traded shares
of CSN, with a 12-month price target of $6 a piece.
Calls made to a CSN spokesman in São Paulo were not