Cramer's 'Stop Trading!': Gerdau, Vale

NEW YORK ( TheStreet) -- There are some great stock plays coming out of Brazil, Jim Cramer said during his Stop Trading! segment on CNBC.

Ahead of the Olympics, Cramer announced that he would buy a steel and mineral company. His picks are Gerdau S.A. ( GGB) and Vale S.A. ( VALE).

Cramer says Gerdau, a low-cost producer of steel, is a great play on Brazilian infrastructure and would own this stock right through the World Cup and the Olympics. It has a $15 billion budget for the Olympics.

Cramer owns Vale for his charitable trust.

When it comes to integrated oils, however, Cramer isn't getting behind companies like Petroleo Brasileiro ( PBR).

One of the biggest initial public offerings of the year came from Banco Santander Brasil ( BSBR). Despite the deal garnering $2.02 billion, Cramer says you don't want to own the company.

Instead, Cramer says to look to its parent, Banco Santander ( STD), which he says is really in control. "It is one of the most responsible lenders in the world," he said.

"Utilities can be a growth business when your population is growing, and for a country that is going from pseudo-industrial to full industrial," Cramer said. As population rises in Brazil, power demand will also increase.

Thus, Cramer also advises to take advantage of CPFL Energia ( CPL)

"I prefer this to any American utility," Cramer said. "I used to recommend Con Edison ( ED), but it hit $45 and that's my price target."

-- Reported by Jeanine Poggi in New York.

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