Steel Fund Slips 0.68% as Ternium Drops 2.85% | Steel, Oct 15
Key Facts
- The SLX steel fund slipped 0.68% to US$101.76 on Thursday 15 October, after a 0.55% fall on Wednesday.
- Ternium fell 2.85% to US$56.88 and Gerdau 2.32% to US$5.05, while Nucor lost 0.94% and Cleveland-Cliffs 3.42%.
- ArcelorMittal rose 1.78% to US$63.60, showing that producers did not move together.
- Brazil’s Ibovespa fell 1.06%, while Mexico’s IPC rose 1.31%.
Today’s Focus
Steel stocks were mostly lower on Thursday 15 October. The SLX steel fund slipped 0.68% to US$101.76, and Ternium, which has plants in Mexico and Argentina, fell 2.85%.
Gerdau, a Brazilian steelmaker, fell 2.32%, while ArcelorMittal rose 1.78%. We found no steel-specific news for the day.
We have no confirmed steel price for the session, so the fund and producers are proxies.
What matters today. Brazil and Mexico are key steel markets in the region, and Thursday’s split shows that shares did not move together.
01 The session in one read
The SLX fund lost 0.68%, with Latin American producers falling more than the average. Ternium dropped 2.85% and Gerdau 2.32%, while Nucor lost 0.94%.
The Brazilian steelmaker Sider Nacional (CSN) ADR fell 4.96% to US$1.15, and Cleveland-Cliffs fell 3.42%.
Brazil’s weak market and a weaker real may explain part of the Gerdau and CSN falls. Ternium’s fall is unexplained by our data.
We could not confirm any steel-specific news.
02 The board
The board shows a steel fund and producers in US dollars, since we have no confirmed steel price.
| Instrument | Level (US$) | Change |
|---|---|---|
| SLX steel fund | 101.76 | -0.68% |
| Ternium (Mexico, Argentina) | 56.88 | -2.85% |
| Gerdau (Brazil) | 5.05 | -2.32% |
| Sider Nacional ADR (Brazil) | 1.15 | -4.96% |
| Nucor (US) | 254.69 | -0.94% |
| ArcelorMittal | 63.60 | +1.78% |
Source: RT close, 2026-10-15. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 204,324.26 | -1.06% | +21.85% | 206,505.98 | 168,310 | 167,142 | — |
| IPSA | 10,971.88 | +0.05% | — | 10,966.21 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 67,180.21 | +0.58% | +12.17% | 66,790.35 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,859,051 | +0.82% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,580.50 | -0.07% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 59,543.73 | +1.12% | — | — | — | — | — |
| 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 | — |
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03 What moved it
We found no steel-specific news for Thursday. Brazilian assets fell, which fits the declines in Gerdau and CSN.
Ternium’s 2.85% fall is not explained by Mexico, where the IPC rose 1.31% and the peso firmed.
04 The Latin American read
Brazil and Mexico are the region’s largest steel markets, and Argentina is also a producer through Ternium. The two main markets moved in opposite directions on Thursday.
Brazil fell 1.06% and Mexico rose 1.31%.
05 The names to watch
Gerdau and Ternium are the main US-listed Latin American steelmakers. CSN is a smaller, more volatile name.
ArcelorMittal and Nucor give global and US comparison.
06 The outlook
A confirmed steel price and Chinese output data would show whether the weakness is sector-wide. For now the Latin American names reflect local markets.
US trade policy on steel remains the main outside risk, though we saw no new decision on Thursday.
07 What to watch
- Steel price: We will report a confirmed steel price when one is available.
- Brazil: The IBC-BR activity index for August is due on Friday 16 October at 12:00 UTC.
- China: Steel output and export data would shape global prices.
- US data: US industrial production for September is due at 13:15 UTC on Friday 16 October, with a forecast of +0.4%.
Background: Steel ETF Slips 0.55% as Ternium Falls 0.75%.
Background: Mexico Stocks Rise 1.31% as Cemex Gains 5.1%.
More: Latin America news in English, every day from The Rio Times.
Frequently Asked Questions
Why did Latin American steel stocks fall on 15 October?
Ternium fell 2.85% and Gerdau 2.32%, while the SLX fund slipped 0.68%, according to RT. We found no steel-specific news.
Which steel stock rose?
ArcelorMittal rose 1.78% to US$63.60.
Does this wrap show the steel price?
No. We could not confirm a steel price for Thursday, so we show producers as proxies.
How did Brazil and Mexico differ?
Brazil’s Ibovespa fell 1.06% while Mexico’s IPC rose 1.31%.
Market data: RT/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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