Brazil exported 45,500 mt of rebar in April, 32 percent less than in March, at an average price reduced by 20 percent to $399/mt FOB, according to the country’s ministry of development, industry and foreign trade, MDIC.
The main exporters were Gerdau and ArcelorMittal, 22,000 mt and 19,000 mt, at average FOB prices of $300/mt and $489/mt, respectively, price deals probably closed in February.
The main destinations were South American countries (35,100 mt) and Jamaica, destination of 10,300 mt shipped by Gerdau at $257/mt, FOB conditions.
With the lackluster performance of the local civil construction sector, Brazilian exports of rebar are set to increase in the coming months, a source from an exporter told SteelOrbis.
Current export offers for CA-50 grade, 10mm thickness are still around $432/mt FOB, unchanged in the last two weeks.