# Steel Shares Drop as Gerdau Slips

> Steel ETF falls 2.5% as Gerdau drops 2% in Latin American markets.
- Title: Steel Shares Drop as Gerdau Slips · The Rio Times | Shortify
- Summary: Steel ETF falls 2.5% as Gerdau drops 2% in Latin American markets. Steel producers ETF SLX dropped 2.48% to US$102.43 on Wednesday 7 October 2026, with…
- Keywords: steel, gerdau, slx, steel producers, latam, markets, steel shares, steel output, trade defences, tariffs, news, world
- Source: The Rio Times — https://riotimesonline.com/steel-markets-latam-wednesday-october-7-2026
- Author: Diego Fernández
- Published: 2026-10-08T00:56:03+00:00
- Read time: 1 min
- Topics: steel, gerdau, slx, steel producers, latam, markets, steel shares, steel output, trade defences, tariffs, news, world
## Market movement
Steel shares declined on Wednesday 7 October. Gerdau fell 1.95% to US$5.02, and Ternium 0.98% to US$56.41.
## Fund performance
The steel producers fund SLX fell 2.48% to US$102.43 on Wednesday 7 October 2026.
## China's steel output
China’s crude steel output fell 3.7% in August from a year earlier, according to the National Bureau of Statistics.
## Brazil's vehicle production
Brazil’s vehicle production rose 10.2% in September, the best for the month since 2014.
## Mexico's light-vehicle output
Mexico’s light-vehicle output fell 15.1% in September, according to INEGI.
## Trade defences
Brazil uses a quota-and-tariff system with a 25% rate above quotas for steel imports.
## Import pressure
Alacero projected in November 2025 that imports would reach 39.7% of steel consumption in Latin America in 2025.
## Chinese steel imports
China’s share of Brazil’s steel imports fell to about 50% in the first eight months of 2026.
## Market outlook
New tariffs or quota changes in Brazil or Mexico would help local steel producers.
## Steel output trends
Lower Chinese steel output may mean more exports of cheap steel to other regions.
## Regional market impact
The Ibovespa eased 0.74% with negative market breadth on Wednesday 7 October 2026.
## What happens next
Trade defences and Chinese export volumes will determine near-term steel market pressure.
## Key takeaway

Steel producers ETF SLX dropped 2.48% to US$102.43 on Wednesday 7 October 2026, with Gerdau falling 1.95% to US$5.02.