"Petrobras...has an expanding production base," he said. "They've drilled a lot of new wells offshore in Brazil, and...their production is expanding strongly...so they get the double-whammy of high oil prices and more production."
Chisholm also likes steelmaker Gerdau.
"Brazil's been growing strongly in the last few years, so there's a lot of demand for steel," he explained. "Gerdau's also got strong operations in North America, where they use a lot of scrap metal, so they're not as dependent on iron ... [whose] price has spiked up."
Disclosure information for John Chisholm was not immediately available.
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