Steel Fund Dips 0.12% as Gerdau Falls 3.01% | Steel, Oct 28
Brazil’s Gerdau fell 3.01% and CSN 7.55% in New York on Wednesday, while the SLX steel fund dipped 0.12% and Nucor and Steel Dynamics rose. The post Steel Fund Dips 0.12% as Gerdau Falls 3.01% | Steel, Oct 28 appeared first on The Rio Times .
Latin American steelmakers experienced a decline on Wednesday, with Gerdau falling the most at 3.01%, Ternium at 1.39%, and CSN by the largest percentage at 7.55%. US steelmakers, on the other hand, rose, with Nucor up by 0.37% and Steel Dynamics by 1.29%. The split between Brazilian and US steelmakers highlights the region's vulnerability to trade policies and Brazil's own market fluctuations.
Gerdau closed at US$4.51, CSN at US$0.80, and Ternium at US$53.92. The global steel fund SLX was relatively stable, down only 0.12% to US$101.43, but its trading volume was minimal. Brazil's stock market, Ibovespa, fell 2.68%, mirroring the decline in Brazilian steelmakers. No specific company news could be confirmed, but the overall trend suggests local pressure rather than a global steel story.
Trade policy changes, particularly US tariffs on steel, could significantly impact Brazilian and Mexican exports.
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