A source from a Brazilian exporter told SteelOrbis that rebar exports are being negotiated in a range of $550/mt to $560/mt, FOB conditions, against $500/mt last week.
It is the second consecutive week of increases, following a period of stability since early May. The source mentioned that the increase reflects not only international steel price trends, but also the reduced availability of the product in Brazil, as the local steel industry is currently operating at a 60 percent capacity utilization rate.
In June, for price deals probably closed in April, Gerdau exported rebar in average at $479/mt, while the Votorantim group exported $501/mt, both FOB conditions.