Ternium Gains 1.81% as Steel ETF Slips 0.07% | Steel, Oct 13
Ternium rose 1.81% to US$58.99 on Tuesday 13 October and Gerdau 0.78%, while CSN fell 2.36% and the SLX steel ETF slipped 0.07% to US$103.03. The post Ternium Gains 1.81% as Steel ETF Slips 0.07% | Steel, Oct 13 appeared first on The Rio Times .
On Tuesday, October 13, Latin America's listed steelmakers experienced varying performances. Ternium, a steelmaker with facilities in Mexico, Argentina, and Brazil, saw a 1.81% increase to reach US$58.99. Gerdau, Brazil's largest long-steel producer, climbed 0.78% to US$5.18. In contrast, CSN, a Brazilian flat-steel and mining group, declined by 2.36% to US$1.24.
The SLX fund, which tracks steel producers, slipped by 0.07% to US$103.03. The report found no company announcements or tariff headlines that could explain this disparate movement. Ternium and Gerdau also operate US plants, so their shares are influenced by American steel prices and trade policy. However, CSN's decline appears to be company-specific, as it also operates under the impact of falling iron-ore prices.
When the Brazilian market reopened after the Monday holiday, the Ibovespa fell 1.04%, likely due to election-related caution and US-Iran tensions. Steel ETFs, such as the VanEck Steel ETF (SLX), provide a proxy for these steel-producing companies. For US readers, Ternium and Gerdau also have US operations, making their shares tied to American steel prices and trade policy.
Changes in trade policy in Washington could directly affect these companies. As of now, there is no confirmed steel price move on Tuesday, and the next factors to watch are company results and trade-policy developments. A rise in US inflation data on Wednesday could also impact industrial shares. This report, generated by The Rio Times' automated newsroom system, relies solely on share and fund prices.
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.