Brazilian producers remain negotiating rebar for export in a FOB price range of $630/mt to $650/mt, stable for three weeks, a local exporter told SteelOrbis.
According to the source, there are expectations in the market for a small price increase over the next few weeks, derived chiefly from the demand in the US.
In August, Brazil exported 70,000 mt of rebar, the highest monthly volume since July 2016. Gerdau exported, 68,300 mt at $466/mt, while the Votorantim group exported 1,500 mt at $494/mt, with price deals probably closed in June.