Shares of steelmakers are trading higher as U.S. steel prices reach a four-year high due to import tariffs. Also, reports suggesting that U.S. Commerce Secretary Lutnick is refusing to give concessions to Mexican steel imports may also be bolstering expectations that protectionism will aid pricing power and margin expansion.

'US Steel Prices Climb to Four-Year High as Trump’s Tariffs Bite' - Bloomberg

https://www.bloomberg.com/news/articles/2026-10-16/us-steel-prices-climb-to-four-year-high-as-trump-s-tariffs-bite

'Canada’s Industry Minister Said The Government Has The Power To Force Cleveland-Cliffs To Sell Its Assets The Country, Escalating A Dispute Over Job Cuts At The Company’s Steel Operations In Ontario' - Bloomberg News

https://www.bloomberg.com/news/articles/2026-10-14/canada-threatens-to-force-cleveland-cliffs-clf-to-sell-assets-over-layoffs

Shares of copper-related companies are trading lower amid a decline in copper prices and a stronger U.S. dollar following hotter-than-expected inflation data.

'Bolsonaro Leads Lula in Brazil Runoff After First Round Surprise' - Bloomberg

https://www.bloomberg.com/news/articles/2026-10-09/bolsonaro-leads-lula-in-brazil-runoff-after-first-round-surprise

Shares of U.S.-traded companies with Brazil exposure are trading higher after the first round of Presidential election balloting showed right-wing candidate Flavio Bolsonaro with a lead over Lula, the current left-wing President. The results may indicate a possible pro-business final election outcome ahead of the October 25 run-off vote, wherein the winning candidate must achieve a majority above 50%.

JP Morgan Maintains Overweight on Nucor, Lowers Price Target to $296

JP Morgan analyst Bill Peterson maintains Nucor (NYSE:NUE) with a Overweight and lowers the price target from $308 to $296.