Lula's Surprise Victory, Escalating Middle East Tensions, and Diverging Steel Trends
This edition covers Lula da Silva's unexpected win in Brazil, the ongoing escalation of conflicts in the Middle East impacting oil flows, and the contrasting regional trends in global steel production.
Lula Land
Lula da Silva pulls a rabbit out of the hat with a surprise victory in Brazil’s elections.
Many have dubbed 2027 an electoral “super-cycle” year in Europe, with a spate of countries from France to Italy to Poland going to the polls. Major gains are expected for the populist right, with the potential for a shakeup at both national and EU levels. That’s all in store next year, but Q4 2026 has brought a taste of an electoral super-cycle, with votes in Brazil, Israel, and the US within a two-week period. Decisive consequences have been billed for each, and the world has been watching with anticipation.
Brazil's Election and US Interference
Brazil was the first to go to the polls, and it has been an election to remember, as left-wing incumbent Luiz Inácio Lula da Silva faced off with Senator Flavio Bolsonaro, son of former president Jair Bolsonaro. The Senator ran on a law-and-order platform, pledging to tackle crime and cut taxes for businesses, though he is…
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