Commodity future contract negotiated on the Dalian stock exchange advanced 3.67%. (Image: Reuters)
To the Mining actions and steel mills operate in strong discharge this Thursday (10) and lead the highs of the Ibovespadriven by the valorization of iron ore in the international market.
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Commodity’s future contract traded on the Dalian Stock Exchange advanced 3.67% and closed up for the third day in a row, amid expectations of steel production cuts on China.
Around 2:05 pm, the papers linked to iron ore stood out among the highest highs of Ibovespa. THE CSN (CSNA3) led the gains, with appreciation of 5.04%, quoted to R $ 8.33. THE OK (Voucher3) advanced 3.35%, negotiated at R $ 55.85.
The actions of CSN Mining (Cmin3) also registered a significant increase from 2.40%, to R $ 5.13. Already Gerdau (GGBR4) It operated with more moderate gains of 1.97%, quoted to R $ 17.12.
The rise of ore is pulled by expectations that the Chinese government adopts new measures to contain excess capacity in the steel industry.
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THE GENIAL INVESTMENTS It estimates that gross steel production in the Asian country can be reduced by up to 30 million tons over the next 12 months, which tends to support commodity prices.
In addition, the demand for stimuli to the Chinese economy and potential additional supply cuts in the third quarter reinforces the perception of support for prices, benefiting exporting companies and local producers.
Limited impact of Trump fares in the sector
The announcement of Donald Trump to impose a 50% rate on all products imported in Brazil should not cause major changes in the short term to the sector of commodities, especially for mining and steel, according to reviews of the BRADESCO BBI and from BTG Pactual.
According to banks the main reason is that the sector was already subject to similar rates previously, especially in the case of commodities as steel and aluminum.
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Source: Moneytimes
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