Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.  

NOTICE TO THE MARKET

Publicly-held Company

COMPANHIA SIDERÚRGICA NACIONAL

Corporate Taxpayer’s ID (CNPJ/MF): 33.042.730/0001-04

Given the information presented in the teleconference with analysts held on November 14, 2014, and in accordance with Article 157, paragraph 4, of Law 6404/76 and Instruction 358/02 of the Brazilian Securities and Exchange Commission, COMPANHIA SIDERÚRGICA NACIONAL (“CSN” or “Company”) hereby clarifies the following to its shareholders and the market in general:

On Friday, November 21, 2014, CSN and its partners in Nacional Minérios S.A. (“Namisa”), ITOCHU Corporation, JFE Steel Corporation, POSCO, Kobe Steel, Ltd., Nisshin Steel Co., Ltd., and China Steel Corporation entered into agreements which envisage the combination of the mining operations and part of the related logistics of CSN and Namisa, which will be segregated in a new company (“Transaction”). The effectiveness of the Transaction is subject to the approvals by the board of directors of the parties, expected to take place until December 12, 2014. As conditions precedent to closing the deal, the agreements establish regulatory approvals and other measures customary in transactions of this nature, which should be fulfilled within 12 months. 

The Company will maintain the CVM, BM&FBOVESPA and the market informed of any developments regarding the Transaction.

São Paulo, November 24, 2014.

David Moise Salama

Investor Relations Executive Officer

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.