A source from a major exporter in Brazil told SteelOrbis that a new reference price will apply to their rebar exports, effective May 2.
According to the source, the CA-50, 10mm thickness product will be exported at $432/mt, FOB conditions, against today’s $400/mt under the same conditions.
The source mentioned that the 8 percent increase is destined to set the new price in line with international prices.
In March, Gerdau exported rebar in average at $523/mt, ArcelorMittal at $393/mt, Aco Cearense at $345/mt and the Votorantim Group at $599/mt, all FOB conditions, with price deals probably closed in January.