Key Facts
- The SLX steel ETF fell 0.67% to US$103.10 on Monday 12 October, down from US$103.80 on Friday.
- Gerdau rose 0.39% to US$5.14, the only gainer among the Latin American steel names.
- Ternium fell 0.41% to US$57.94 and CSN 0.78% to US$1.27, both traded as ADRs in New York.
- Brazil’s exchange was closed for a holiday, so only the US-listed shares traded.
- The US dollar index rose 0.35% to 102.57, a mild headwind for industrial shares.
Today’s Focus
Steel shares were mixed to lower on Monday 12 October. The SLX ETF, a New York fund of steel producers, fell 0.67% to US$103.10.
Gerdau, Brazil’s largest long-steel maker, rose 0.39% to US$5.14. Ternium, the Mexico-focused producer, lost 0.41% to US$57.94, and CSN fell 0.78% to US$1.27.
São Paulo was shut for the Nossa Senhora Aparecida holiday, so only the ADRs traded. We found no company news and could not confirm a steel price move on the day.
What matters today. Latin American steel shares in New York were mostly lower, with Gerdau the exception on a day when Brazil’s exchange was closed.
01 The session in one read
Steel shares ended mostly lower on Monday 12 October. The SLX ETF fell 0.67% and two of the three Latin American names declined.
Gerdau bucked the trend with a 0.39% gain to US$5.14.
Assessment — Mixed, low-conviction session MEDIUM
Moves were within one percent and without a confirmed driver. The variable to watch is how São Paulo prices Gerdau and CSN on Tuesday.
02 The board
Ternium and CSN both declined, while Gerdau edged up. The spread is small, so we treat it as noise rather than a signal.
The SLX fund holds steel producers worldwide, so it reflects global sentiment as well as the Americas.
| Asset | Level | Change |
|---|---|---|
| Steel (SLX ETF) | US$103.10 | -0.67% |
| Gerdau | US$5.14 | +0.39% |
| CSN | US$1.27 | -0.78% |
| Ternium | US$57.94 | -0.41% |
Source: RT close, 2026-10-12. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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 12, 2026 · 21:46
Ibovespa · benchmark
209,066.90 +1.38%
L 167,142day rangeH 168,310
+21.85% over 12 months
Market breadth · 4 names
50% advancing
2 ▲ advancing2 declining ▼
Currencies, rates & key inputs
USD / BRL
5.16
+0.01%
USD / MXN
17.06
-0.24%
USD / CLP
913.98
+0.04%
USD / COP
3,140
+0.03%
USD / ARS
1,493
+0.10%
Latin America scoreboard
IndexLastTodayStrength
IbovespaBrazil 209,066.90 +1.38%
S&P/BMV IPCMexico 66,411.11 +0.55%
S&P IPSAChile 11,043.36 +0.17%
S&P MERVALArgentina 2,828,027 -0.16%
MSCI COLCAPColombia 2,531.15 +0.00%
BVL S&P PerúPeru 60,956.11 -0.51%
Full instrument board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 209,066.90 | +1.38% | +21.85% | 206,220.24 | 168,310 | 167,142 | — |
| IPSA | 11,043.36 | +0.17% | — | 11,024.22 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 66,411.11 | +0.55% | +12.17% | 66,048.57 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,828,027 | -0.16% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,531.15 | +0.00% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 60,956.11 | -0.51% | — | — | — | — | — |
| 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%
IBOV 209,066.90 +1.38%
USD/DOP 58.34 +1.25%
USD/UYU 40.27 +1.24%
EUR/BRL 5.95 +1.01%
USD/CRC 445.92 +0.89%
USD/BOB 11.64 -0.76%
USD/PEN 3.36 -0.66%
The session read
The Ibovespa rose 1.38%, with breadth evenly split — 2 of 4 names higher. IPC MEX led, while BVL PERÚ lagged.
Live Company IntelligenceGerdau S.A — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
G
◆ Live Company Intelligence
Gerdau
SA: GGBR4GGBR4Basic MaterialsSteel30,000 employees
R$50.40B
Market cap
Valuation & profitability
Market capR$50.40B
Revenue (TTM)R$69.54B
P / E ratio23.1
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$22.56
Revenue trend · 6y
20202025
Latest R$69.86B
Ownership
Institutions38.6%
Shares outstanding1.24B
Dividend
Yield3.2%
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
We found no company announcement or tariff headline that explains Monday’s moves. The dollar index rose 0.35% to 102.57.
Brazil’s holiday cut local trading, which can leave the ADRs (US-listed receipts) to trade on thinner volume.
04 The Latin American read
Brazil’s Gerdau and CSN and Mexico’s Ternium compete with cheap imports and depend on construction and car demand. Tariffs protect them only in part.
For US readers, Ternium and Gerdau also run US plants, so their shares are tied to American steel prices and trade policy.
05 The names to watch
Gerdau is the largest Brazilian long-steel producer and has a large US business. Ternium serves the Mexican and wider Americas market.
CSN is a Brazilian flat-steel and mining group. Its ADR closed at US$1.27.
06 The outlook
Brazil’s exchange reopens on Tuesday. The question is whether the local shares follow Monday’s New York moves.
We could not confirm a steel price move on Monday, so the next data points are company results and trade-policy news.
07 What to watch
- Tuesday’s B3 reopening: Local prices for Gerdau and CSN will adjust to Monday’s New York moves.
- Trade policy: Tariff news in Washington, Brasília or Mexico City moves steel names.
- Car and construction demand: These are the main buyers of Latin American steel.
- Company results: Third-quarter reports will show margin trends.
Frequently Asked Questions
How did Latin American steel shares do on Monday?
Gerdau rose 0.39% to US$5.14, while Ternium fell 0.41% to US$57.94 and CSN fell 0.78% to US$1.27 in New York.
What is the SLX ETF?
SLX is a US fund that holds steel producers. It fell 0.67% to US$103.10 on 12 October.
Why was Brazil’s market closed?
B3 was closed for the Nossa Senhora Aparecida holiday on 12 October.
Why do US readers follow these names?
Gerdau and Ternium have US operations, so they react to American steel prices and trade policy.
Market data: RT
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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