Steel ETF Slips 0.5% as Gerdau Falls 2% | Steel, Oct 8
The SLX steel fund slipped 0.46% and Gerdau fell 1.99% as weak construction demand offset tariff walls in Brazil and Mexico. The post Steel ETF Slips 0.5% as Gerdau Falls 2% | Steel, Oct 8 appeared first on The Rio Times .
On Thursday, October 8, 2026, Latin American steel shares experienced a slight decline, led by Gerdau, which dropped 1.99% to US$4.92 on its US listing. The SLX steel-producers ETF, a benchmark for global steel equities, saw a 0.46% decrease, settling at US$101.96. CSN, a Brazilian flat-steel producer, remained flat at US$1.23, while Ternium, a Mexican steelmaker, gained 0.11% to US$56.47.
The decline in Latin American steel equities is attributed to soft construction demand and tariffs that are shielding some producers but not driving overall demand. Brazil's 25% tariff on steel imports above quotas, in place through June 2027, and anti-dumping duties on Chinese cold-rolled and coated products provide a protective shield to flat-steel producers like CSN and Usiminas, but do not benefit Gerdau, the most exposed to Brazil's weak construction cycle.
Mexico's tariffs of up to 50% on steel from non-free-trade countries shield Ternium, but weak demand has yet to translate into price increases. Tariffs have kept some Chinese steel out, but cannot create demand where builders and buyers remain cautious. The key factors to watch are Brazilian monthly vehicle production and construction activity indicators, as sustained growth in these areas would directly impact flat and long steel orders.
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.