Steel ETF Falls 2.5% as Gerdau Slips 2% | Steel, Oct 7
Steel shares fell with the SLX fund down 2.48% as Gerdau lost 1.95%. Chinese output is falling, and Mexican vehicle production dropped 15.1% in September. The post Steel ETF Falls 2.5% as Gerdau Slips 2% | Steel, Oct 7 appeared first on The Rio Times .
On October 7, steel shares experienced a decline of 2.5%, with Gerdau falling 2% and Ternium dropping 0.98%. The reason behind this market movement is attributed to cheap imports and weak demand in China. Latin American steelmakers are facing pressure from imports and a soft global market. Despite tariffs having a positive impact, they do not alleviate the overall pressure faced by the industry.
The decrease in China's crude steel output by 3.7% in August led to an increase in exports of steel to other regions. Alacero projected in November 2025 that imports would reach 39.7% of steel consumption in Latin America by 2025, with Chinese mills supplying 45.4% of these imports.
Brazilian flat-steel group, CSN, remained unchanged at US$1.23, while Gerdau's share price fell to US$5.02 and Ternium's share price dropped to US$56.41. The Steel Select ETF (SLX) experienced a more significant decline of 2.48%, reaching US$102.43. The lack of a verified steel price for the session led to this report focusing on shares and a fund as proxies.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
