By The Rio Times | Created at 2026-10-07 02:01:56 | Updated at 2026-10-08 04:56:04
1 day ago
Key Facts
- Ternium fell 1.73% to US$56.97, Gerdau 0.97% to US$5.12 and CSN 0.81% to US$1.23 in New York on Tuesday 6 October (EODHD).
- The global steel producers fund SLX dipped 0.09% to US$105.04, so Latin American steel shares did worse than the world board.
- China’s crude steel output fell 3.7% in August from a year earlier, and 3.1% in January–August, the National Bureau of Statistics reported.
- Alacero, the Latin American steel association, projected in November 2025 that Chinese mills would supply 45.4% of the region’s steel imports in 2025.
Today’s Focus
Latin American steel shares fell on Tuesday 6 October. Ternium lost 1.73% to US$56.97 in New York, Gerdau 0.97% to US$5.12 and CSN 0.81% to US$1.23.
The global steel producers fund SLX fell only 0.09% to US$105.04, so the region’s names lagged the world board.
The backdrop is cheap imports. Alacero, the Latin American steel association, says Chinese mills supply a large part of the region’s imports.
What matters today. Latin American steelmakers face import pressure and soft global demand. Tariffs help but do not remove the pressure.
01 The session in one read
Steel shares in Latin America declined on Tuesday 6 October. Ternium, which has plants in Mexico and Argentina, fell 1.73%. Gerdau, Brazil’s long-steel maker, fell 0.97%. CSN, a Brazilian flat-steel group, fell 0.81%.
China’s crude steel output fell 3.7% in August from a year earlier, according to the National Bureau of Statistics. Lower Chinese output can mean more exports of cheap steel to other regions.
We have no verified steel price for the session, so this wrap follows shares and a fund.
Assessment — Import pressure on the region’s mills MEDIUM
Alacero projected in November 2025 that imports would reach 39.7% of steel consumption in Latin America in 2025, with Chinese mills supplying 45.4% of those imports.
The variable to watch is whether Brazil and Mexico widen their trade defences. Brazil’s quota-and-tariff system, with a 25% rate above quotas, is seen by the industry as insufficient, according to Aço Brasil.
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02 The board
The SLX fund, which holds steel producers worldwide, fell 0.09% to US$105.04.
Ternium fell 1.73% to US$56.97. Gerdau fell 0.97% to US$5.12. CSN fell 0.81% to US$1.23.
| Steel producers fund (SLX) | US$105.04 | -0.09% |
| Ternium | US$56.97 | -1.73% |
| Gerdau | US$5.12 | -0.97% |
| CSN | US$1.23 | -0.81% |
Source: EODHD, close of 2026-10-06. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
No steel price was verified for the session; shares and a fund are labelled proxies.
Live Market IntelligenceThe live market boardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.
Rio Times · Live Market Intelligence
Latin America — Cross-Market Board
Regional
Oct 6, 2026 · 22:01
Ibovespa · benchmark
205,835.29 -0.52%
L 167,142day rangeH 168,310
+21.85% over 12 months
Market breadth · 5 names
100% advancing
5 ▲ advancing0 declining ▼
Currencies, rates & key inputs
Latin America scoreboard
IndexLastTodayStrength
IbovespaBrazil 205,835.29 -0.52%
S&P/BMV IPCMexico 65,246.95 +0.42%
S&P IPSAChile 11,164.13 +0.36%
S&P MERVALArgentina 2,896,853 +0.95%
MSCI COLCAPColombia 2,589.04 +0.25%
BVL S&P PerúPeru 60,220.93 +0.91%
Full instrument board
| IBOV | 205,835.29 | -0.52% | +21.85% | 206,911.89 | 168,310 | 167,142 | — |
| IPSA | 11,164.13 | +0.36% | — | 11,123.80 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 65,246.95 | +0.42% | +12.17% | 64,975.08 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,896,853 | +0.95% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,589.04 | +0.25% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 60,220.93 | +0.91% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
Largest moves today
USD/PYG 5,939 +1.68%
USD/DOP 58.34 +1.25%
USD/UYU 40.27 +1.24%
EUR/BRL 5.95 +1.01%
MERVAL 2,896,853 +0.95%
BVL PERÚ 60,220.93 +0.91%
USD/CRC 445.92 +0.89%
USD/BOB 11.64 -0.76%
The session read
The Ibovespa eased 0.52%, with breadth positive — 5 of 5 names higher. MERVAL led, while COLCAP lagged.
G
◆ Live Company Intelligence
Gerdau
SA: GGBR4GGBR4Basic MaterialsSteel30,000 employees
Valuation & profitability
Market capR$50.59B
Revenue (TTM)R$69.54B
P / E ratio22.4
Profit margin3.2%
Return on equity4.2%
Price & risk
52-wk low
$16.6652-wk high
$27.13
Beta (volatility)0.89
200-day average$22.47
Revenue trend · 6y
20202025
Latest R$69.86B
Ownership
Institutions38.6%
Shares outstanding1.24B
Dividend
Yield3.0%
Payout ratio26.3%
Fwd. annual$0.92
What Gerdau does. Gerdau S.A., together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, and South America Business segments. The company offers rebars, bars, wires, thick plates, hot rolled coils, billets, blooms, plates, wire rods, and structural profiles. It also provides special steel products for agricultural,…
03 What moved it
China is the world’s largest steelmaker. With home demand weak and output falling 3.7% in August, more of its steel can be sold abroad.
Alacero said in its November 2025 report that Chinese imports into Latin America were at record levels. Brazil’s steel institute Aço Brasil says China accounts for 64% of Brazil’s steel imports.
04 The Latin American read
For Brazil, the government introduced a quota-and-tariff system with a 25% rate above quotas, but the industry says the effective average import tariff is only about 7.2%, according to Aço Brasil.
Mexican and Argentine producers face similar pressure. Argentina applies one of the lowest tariffs in the region, according to Alacero data.
05 The names to watch
Ternium is the group with the biggest exposure to Mexico and Argentina. Gerdau focuses on long steel for construction in Brazil and elsewhere. CSN makes flat steel and also owns an ore miner.
All three fell on Tuesday, but the moves were small.
06 The outlook
The near-term path depends on trade defences and on Chinese export volumes. New duties would help local mills.
Weak construction demand in the region would keep pressure on margins.
07 What to watch
- Trade defences: New tariffs or quota changes in Brazil or Mexico would help local producers.
- China steel output and exports: Lower output may mean fewer exports, but weak demand can push more steel abroad.
- Construction activity: Gerdau depends on building demand in Brazil.
- Auto and manufacturing demand: Ternium is tied to Mexican factory output.
Frequently Asked Questions
Which steel shares fell on 6 October?
Ternium fell 1.73% to US$56.97, Gerdau 0.97% to US$5.12 and CSN 0.81% to US$1.23 in New York.
Why does China matter for Latin American steel?
Chinese mills supplied about 45.4% of Latin America’s steel imports in 2025, according to an Alacero projection, which pressures local prices.
What tariffs does Brazil use on steel?
Brazil uses a quota system with a 25% tariff above quotas. The industry says the effective average tariff is only about 7.2%, according to Aço Brasil.
What is the SLX fund?
SLX is a fund that holds steel producers around the world. It fell 0.09% to US$105.04 on 6 October.
Market data: EODHD; import data: Alacero; steel output: National Bureau of Statistics of China
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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