BNamerices reported that Brazilian steelmaker CSN is taking part in a private bidding process for the possible acquisition of Russian steelmaker Severstal's US operations.

CSN's board said that as part of this process, evaluations and studies related to the feasibility of referred operation are in progress, aiming at a potential submission of an indicative acquisition proposal.

Severstal North America, as the steelmaker's US operations are collectively known, comprises two steel mills, in Michigan and Mississippi and could fetch about USD 1.5 billion.

Meanwhile, Pittsburgh based US Steel was also reportedly interested in acquiring Severstal North America's operations, eyeing its Dearborn, Michigan asset. The plant is close to one of US Steel's units and could serve automakers in Detroit.

In mid May, Severstal confirmed it was considering a range of strategic options in relation to its US steel operations.