The reference price range for the export of rebars by Brazilian producers to South American countries is currently trending in a range of $560/mt to $570/mt, against $555/mt to $565/mt last week, CFR conditions for the CA-50 grade, a local market source told SteelOrbis.
According to the source, the price increase reflects higher prices for billets used as feedstock to produce rebars and wire rod.
In October, ArcelorMittal exported 26,000mt of rebars while Gerdau exported 8,700mt, all destined to South American countries, at an average FOB price of $560/mt, different quality grades and price deals probably closed in August.