Steel ETF Falls 0.67% to US$103.10 as Gerdau Gains | Steel, Oct 12
The SLX steel ETF fell 0.67% to US$103.10 on Monday 12 October while Gerdau rose 0.39% to US$5.14 and Ternium and CSN slipped in New York. The post Steel ETF Falls 0.67% to US$103.10 as Gerdau Gains | Steel, Oct 12 appeared first on The Rio Times .
On Monday, October 12, steel shares experienced a mixed performance, with the SLX ETF falling 0.67% to US$103.10. Gerdau, Brazil's largest long-steel maker, rose 0.39% to US$5.14, while Ternium, the Mexico-focused producer, declined 0.41% to US$57.94, and CSN fell 0.78% to US$1.27. The closure of Brazil's São Paulo exchange due to the Nossa Senhora Aparecida holiday led to thinner trading volumes for the ADRs (US-listed receipts) of Gerdau, Ternium, and CSN.
However, the overall movement in steel prices remained within a narrow range of one percent, indicating a lack of a clear driver or significant market-moving news. Brazil's steel industry comprises Gerdau, Ternium, and CSN, which all have US operations and are influenced by American steel prices and trade policies. As Brazil's exchange reopens on Tuesday, the impact of local share movements on Monday's New York trends remains to be seen.
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