# Steel ETF Gains 1.8% as Gerdau Jumps 4.1%

> Steel ETF SLX rises 1.81% as Gerdau and CSN surge 4.07% on Friday.
- Title: Steel ETF Gains 1.8% as Gerdau Jumps 4.1% · The Rio Times
- Summary: Steel ETF SLX rises 1.81% as Gerdau and CSN surge 4.07% on Friday. Steel ETF SLX rose 1.81% to US$103.80 on Friday 9 October as Gerdau gained 4.07% to…
- Keywords: slx, gerdau, csn, ternium, arcelormittal, nucor, cleveland-cliffs, steel, latam, markets, s&p 500, ibovespa
- Source: The Rio Times — https://riotimesonline.com/steel-markets-latam-friday-october-9-2026
- Author: Diego Fernández
- Published: 2026-10-10T00:56:44+00:00
- Read time: 1 min
- Topics: slx, gerdau, csn, ternium, arcelormittal, nucor, cleveland-cliffs, steel, latam, markets, s&p 500, ibovespa
## Steel ETF SLX
The steel fund SLX rose 1.81% to US$103.80 on Friday 9 October, up 0.26% on the week.
## Gerdau and CSN
Brazil’s Gerdau gained 4.07% to US$5.12 and CSN 4.07% to US$1.28.
## Ternium and Global Steelmakers
Ternium rose 3.03% to US$58.18. ArcelorMittal rose 4.58%, Cleveland-Cliffs 6.48% and Nucor 1.70%.
## Chinese Steel Pressure
Kitco reported only a small minority of Chinese steelmakers were profitable, a sign of weak demand.
## Market Context
The S&P 500 rose 0.59% and the Brazilian market hit a record on Friday 9 October.
## Regional Impact
Latin American steel producers saw gains as the Ibovespa rose 1.38% with 80% of names advancing.
## Key Players
Gerdau is Brazil’s largest steelmaker, CSN makes flat steel and mines iron ore, Ternium operates in Mexico and Argentina.
## Outlook
Steel shares depend on construction demand, interest rates and Chinese exports.
## What to Watch
Brazilian interest rates, Chinese exports, iron ore prices and Mexican trade policy are key factors.
## Key takeaway

Steel ETF SLX rose 1.81% to US$103.80 on Friday 9 October as Gerdau gained 4.07% to US$5.12.