BRAZIL · ENERGY
Key Facts
- The country Brazil is South America’s largest economy and a major exporter of iron ore, steel and farm goods.
- What happened On Thursday 22 October 2026 five steel and mining groups won all 32 lots set aside for them.
- The numbers The 320,000 cubic metres a day equal about 11.3 million cubic feet, or 29% of all gas offered.
- The price Gas costs 115% of the US Henry Hub price plus a winning premium of US$2.30 on every MMBtu, from March 2027.
- What it means for you Vale, Gerdau, CSN and Ternium have shares or depositary receipts in New York, and their gas bill now follows a US price.
- Still open The split of lots among the five winners and the delivered price after taxes and transport have not been published.
- Power Index Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 75.0 points (October 2026 edition).
Prediction markets · who wins the runoff
Implied chance of winning Brazil’s presidency on 25 October, from traders’ prices.
Polymarket
Flávio Bolsonaro 78.2% · Lula 21.5% (US$192 million traded)
Kalshi (regulated in the US by the CFTC)
Flávio Bolsonaro 79% · Lula 22%
As of 22 October, 2:20 pm ET (19:20 Lisbon), updated every 20 minutes. Prices are bets, not polls, and can move fast.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
The Brazil gas auction on Thursday 22 October 2026 ended with five steel and mining groups taking all 320,000 cubic metres a day on offer. The sale was run by the state company Pré-Sal Petróleo (PPSA), and its price follows the US benchmark Henry Hub.
For US readers, the winners include Vale, Gerdau, CSN and the Ternium group, all traded on the New York Stock Exchange. From March 2027 their Brazil gas auction purchases will move with a US price, tying Brazilian industrial costs to American gas markets.
Brazil Election Data Room
Runoff poll average: Flávio Bolsonaro 51.0%, Lula 49.0%
35 national polls from 20 pollsters since 4 October, updated hourly. Every poll, free to download.
How the Brazil Gas Auction Worked
PPSA manages the Brazilian state’s share of oil and gas from the offshore pre-salt fields. On Thursday it sold that gas directly to industry for the first time.
The Brazil gas auction was held online on the platform of CCEE, the electricity trading chamber, from 9:00 Brasília time. It offered 110 lots of 10,000 cubic metres a day each, or 1.1 million in all, for supply from March to December 2027.
Who Won the Steel and Mining Lots
All 32 lots reserved for steel, metalworking and mining were sold, which makes 320,000 cubic metres a day, InfoMoney reported. Only base industries could bid, and Eixos reported that 36 companies were qualified.
The winners were CSN, Gerdau Aços Longos, Samarco, Ternium Brasil and Vale. Samarco is owned equally by Vale and Australia’s BHP, and Ternium Brasil is the Rio de Janeiro mill of Luxembourg-based Ternium.
Live Market IntelligenceBrazil — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.
Rio Times · Live Market Intelligence
Brazil — Live Market Board
B3 · São Paulo
Oct 22, 2026 · 15:38
Ibovespa · benchmark
204,116.29
-1.15%
L 167,142day rangeH 168,310
+21.85% over 12 months
Market breadth · 15 names
47% advancing
7 ▲ advancing8 declining ▼
Currencies, rates & key inputs
USD / BRL
5.16
+0.01%
EUR / BRL
5.95
+1.01%
Selic rate
14.00%
·
Brent crude
88.88
-0.03%
Iron ore
161.91
·
Sector heatmap · average move today
Materials
+2.35%
SUZB3
Mining
+1.16%
VALE3, CSNA3, GGBR4
Industrials
+0.20%
WEGE3, RENT3
Financials
-0.10%
ITUB4, BBDC4, BBAS3, B3SA3
Energy
-0.12%
PETR4, PRIO3
Consumer Staples
-0.80%
ABEV3
Utilities
-1.38%
ENEV3
Consumer Disc.
-2.63%
AZZA3
Latin America scoreboard
IndexLastTodayStrength
IbovespaBrazil
204,116.29
-1.15%
S&P/BMV IPCMexico
70,249.54
+1.43%
S&P IPSAChile
10,746.44
-2.18%
S&P MERVALArgentina
3,017,221
—
MSCI COLCAPColombia
2,529.36
-1.21%
BVL S&P PerúPeru
59,561.23
-4.00%
Full instrument board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 204,116.29 | -1.15% | +21.85% | 206,495.23 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
Largest moves today
AZZA3
15.89
-2.63%
SUZB3
41.33
+2.35%
GGBR4
24.69
+2.19%
ENEV3
24.21
-1.38%
IBOV
204,116.29
-1.15%
ITUB4
38.60
-1.03%
VALE3
72.97
+0.83%
ABEV3
14.89
-0.80%
The session read
The Ibovespa eased 1.15%, with breadth negative — 7 of 15 names higher. Materials led, while Consumer Disc. lagged.
From The Rio Times
Related coverage · 22 Oct 2026
Brazil’s September Tax Take Hits Record
Read →
What the Gas Will Cost
The monthly price is 115% of the average daily Henry Hub price plus the premium each bidder offered, converted into reais. The steel and mining group bid US$2.30 per million British thermal units (MMBtu), against an opening premium of US$1.80, InfoMoney and Movimento Econômico reported.
The notice’s example of a US$2.95 Henry Hub price gave an opening price of US$5.19 per MMBtu. The same example with the winning premium works out to about US$5.69, by our arithmetic, before taxes and transport.
How the Other Industries Fared
Eixos reported that all 110 lots in the Brazil gas auction found buyers among 23 companies. Glass makers paid the highest premium, US$4.00 per MMBtu for 100,000 cubic metres a day, followed by steel and mining at US$2.30.
Chemicals and petrochemicals took 350,000 cubic metres at US$1.92, and the winners included Braskem, Brazil’s main petrochemical group. Ceramics took 200,000 cubic metres at US$1.86, while fertiliser makers bought 130,000 cubic metres at the lowest premium of US$1.82, InfoMoney reported.
Why Delivery From Itaboraí Matters
PPSA hands over the gas at the exit of the Itaboraí gas treatment unit, part of the Boaventura Energy Complex near Rio de Janeiro. Buyers arrange transport from there, directly or through traders authorised by the oil regulator ANP.
Northeast industry groups said the distance raises costs for plants far from Rio, and one argued that Southeast producers will have the edge. Earlier Rio Times coverage of the federal gas plan explained why Brasília wants pre-salt gas to serve industry.
What It Means for US Readers
Vale, Gerdau, CSN and Ternium trade in New York as VALE, GGB, SID and TX, so their Brazilian gas costs matter to US holders. The bill now follows Henry Hub, the benchmark for US gas, and the real-dollar rate.
These groups compete with US producers in global steel and iron-ore markets, so cheaper gas could lower their costs. Investors can follow the sector in the Rio Times steel markets report.
What Is Not Known
The split of lots among the five winners of the Brazil gas auction has not been published. No delivered price including taxes and transport has been given, so comparisons with current contracts remain estimates.
PPSA has not said when it will hold another Brazil gas auction. It is also unclear how much of the new gas each winner will use at its own plants.
More: Brazil news in English, every day from The Rio Times.
Frequently Asked Questions
Who won the steel and mining lots in the Brazil gas auction?
CSN, Gerdau Aços Longos, Samarco, Ternium Brasil and Vale won all 32 lots on 22 October 2026. Together they took 320,000 cubic metres a day.
How much gas is 320,000 cubic metres a day?
It is about 11.3 million cubic feet a day, or 29% of the 1.1 million cubic metres offered in the auction. Each lot was 10,000 cubic metres a day.
How is the gas priced?
The monthly price is 115% of the average daily Henry Hub price plus the winner’s premium, converted into reais. The steel and mining premium was US$2.30 per MMBtu.
When does the gas start flowing?
Supply runs from March to December 2027. PPSA delivers it at the Itaboraí treatment unit in Rio de Janeiro state, and buyers arrange transport.
What is PPSA?
Pré-Sal Petróleo, or PPSA, is the Brazilian state company that manages the government’s share of pre-salt oil and gas. It sold gas directly to industry for the first time in this Brazil gas auction.
Which winners are listed in New York?
Vale (VALE), Gerdau (GGB), CSN (SID) and Ternium (TX) trade there. Samarco is owned by Vale and BHP and has no listing of its own.
Sources: Eixos, PPSA negocia todo o gás da União de 2027 para 23 indústrias diferentes, 22 October 2026; InfoMoney, CSN, Gerdau, Vale e mais empresas arrematam lotes em 1º leilão de gás da União, 22 October 2026; Diário do Comércio, CSN, Vale e outras venceram lotes em leilão de gás da União, 22 October 2026; Pré-Sal Petróleo (PPSA), 1º Leilão de Gás da União, 22 October 2026; Cenário Energia, PPSA publica edital do 1º Leilão de Gás Natural da União, 7 October 2026; Movimento Econômico, União fará 1º leilão de gás com 1,1 milhão de m³/dia e custo maior no NE, 24 September 2026.
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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