While U.S. crude prices have stayed relatively stable, prices on international markets have gone up substantially in recent weeks.

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However, a stable U.S. dollar index and crude oil prices hitting a fresh six-month low Monday did limit the upside in the precious metals.

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By adding more production in North America (AmeriSteel has production capacity of 1.8 million metric tons of crude steel annually), notes Peruzzi, Gerdau now has more stable, dollar-based revenues and earnings.

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