Brazil exported 33,600 mt of rebar in February, 16 percent less than in January, at an average FOB price increased by 20 percent to $536/mt, FOB conditions.
Gerdau exported 31,600 mt at $539/mt, while the Votorantim Group exported 2,000 mt at $482/mt, both FOB conditions. The shipments were almost entirely destined to South American countries (32,100 mt at $532/mt FOB), while 1,500 mt at $649/mt FOB was shipped to Africa. The price deals were probably closed in December 2016.
The most recent export deals are reportedly being closed at $440/mt to $450/mt, FOB conditions, having the CA50 grade, 10mm thickness product as reference.
A 10 percent price increase was expected to become effective March 1, but it has not been adopted in the market so far.