The Brazilian producers exported 40,000 mt of rebar in January, 22 percent less than in December 2016, at an average FOB price increased by 2.8 percent to $445/mt, FOB conditions, according to the country’s ministry of industry, foreign trade and services, MDIC.
Gerdau was the top exporter, 37,400 mt at $440/mt, while the Votorantim group exported 1,800 mt at $503/mt, with price deals probably closed in November 2016. South American countries were the main destination, 24,000 mt at $525/mt, while 15,900 mt was shipped to the Caribbean at $323/mt, all FOB conditions.
The most recent rebar export deals were reportedly closed in a range of $440/mt to $470/mt, FOB conditions, having the CA50 grade, 10mm thickness product as reference, roughly stable since a 12 percent increase in early December.