According to a local exporter, the reference price range for negotiating rebar exports from Brazil remains at $630/mt to $650/mt, FOB conditions, this week.
“Expectations for an increase of price did not materialize,” the source said, adding that a positive outlook remains for both volumes and prices for export.
In August, Brazil exported 70,000 mt of rebar, the highest monthly volume since July 2016, with the vast majority from Gerdau, 68,300 mt at $466/mt, FOB conditions, for price deals probably closed in June.