Latin America Steel Rises: Gerdau, CSN, Ternium Lead
CSN's ADRs surged 7.69% on Thursday as Latin America's steel tariff shield held, with Ternium up 1.95% and Gerdau's local shares also gaining in Sao Paulo. The post Latin America Steel Rises: Gerdau, CSN, Ternium Lead appeared first on The Rio Times .
On Thursday, September 3, 2026, Latin American steel shares experienced significant gains, with CSN leading the rally. CSN's New York-listed ADRs surged by 7.69% to reach US$1.26 per share, marking the strongest performance among major regional names. Gerdau's ADRs, on the other hand, declined by 0.40% to US$4.95, while Ternium's ADRs increased by 1.95% to US$57.98.
The global steel ETF SLX settled at US$110.85, up by 0.54%. The surge in Latin American steel shares is attributed to investor confidence that tariff walls in Brazil and Mexico are preventing cheap Chinese steel from flooding the market. The tariff protection through mid-2027 is providing regional steelmakers with pricing power against the cheap Chinese supply, while the recovery in Mexican demand is adding volume to the market.
Brazil's above-quota tariff on steel products, which is set to run through June 2027, and Mexico's levies of up to 50% on imported steel are the main factors behind the current surge in Latin American steel shares.
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