New rebar sales for export from Brazil are being negotiated at $486/mt, FOB conditions, having the CA50 grade, 10mm thickness product as reference. This reflects an 8 percent increase from prices reported last week, a source from a major exporter told SteelOrbis.
He mentioned that pre-existing contracts will maintain the previous price level, while new deals are negotiated on a case-by-case basis.
In April, Gerdau exported rebar at an average price level of $462/mt, while the Votorantim group exported at an average of $496/mt, both FOB conditions with price deals probably closed in February.