SAO PAULO: Brazilian stocks rose on Tuesday as hopes of higher prices of basic products lifted shares of miners, steelmakers and pulp producers.
Brazil's benchmark Bovespa stock index was 2.2 percent higher, rising for the third straight day.
Preferred shares of Suzano Papel e Celulose SA led the gains after the company agreed to increase prices of its pulp exports to China by 3.8 percent beginning in December.
Rival Fibria Celulose SA later said it would also raise prices for the Asian market.
Shares of miners and steelmakers, such as Cia Sider?rgica Nacional SA and Vale SA, also extended their rally. Many traders hope heavy infrastructure spending under US President-elect Donald Trump translates into higher prices of industrial metals.
An index tracking shares of producers of basic products listed on the S?o Paulo stock exchange reached a nearly two-year high.
Most Latin American currencies were slightly higher, extending their rebound from a selloff triggered by Trump's surprise victory this month. The Mexican peso firmed 0.3 percent on the back of higher crude prices.
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