For Brazil, news that China demand for metals was strong helped Brazil's major
mining and steel companies. Companhia Siderurgica Nacional, or CSN (SID) was
trading 1.93% higher to 29.65 Brazilian reals ($12.20) and iron ore exporter
Vale do Rio Doce (RIO) was trading 1% higher as the rest of the Ibovespa was
falling. However, once it became clear that the index was finding direction on
the downside, Vale shares began declining to BRL25.32 per share, barely holding
positive ground.