Vale S.A. (BOVESPA:VALE3) is weighing up the sale of its stake in Companhia Siderúrgica do Pecém (CSP), a steelmaker based in northeastern state Ceará, but a deal is not expected to take place imminently, the company said in a release. Four companies are looking at buying CSP, local newspaper O Povo reported last week, citing an unnamed source. The possible buyers include steelmakers Gerdau S.A. (BOVESPA:GGBR4) and Companhia Siderúrgica Nacional (BOVESPA:CSNA3) (CSN), ArcelorMittal S.A. (ENXTAM:MT) and Russia's Public Joint Stock Company "Novolipetsk Steel" (LSE:NLMK).

"As the company has previously stated on several occasions . CSP is the focus of potential divestment as it is a non-core asset for Vale. At this point, however, no decision has been made regarding our shareholding in CSP," the Vale statement reads.