Why Companhia Siderurgica Nacional Stock Just Popped 9%

Shares of Brazilian steelmaker Companhia Siderurgica Nacional (NYSE: SID) are starting the day of right Wednesday, rising 9.3% as of noon EDT.

Yet there doesn't seem to be any news specific to Companhia Siderurgica Nacional to explain the sudden spike.

SID shares are red hot today. Image source: Getty Images.