A source from a major Brazilian exporter told SteelOrbis that Gerdau has increased the export price for its rebar by 8 percent, effective from July 1.
With the increase, confirming previous rumors, the new price is $467/mt, FOB conditions, for CA-50 grade, 10mm thickness.
According to the source, the other producers, such as ArcelorMittal and Votorantim will also increase their export prices by similar figures. In his view, the new price will reduce the competitiveness of the country’s export of rebar, due to lower international prices.
In the domestic market, rebar transactions are around the equivalent of $730/mt, FOB conditions, no taxes included.