Brazilian producers remain negotiating rebar for export in a range of $630/mt to $635/mt, FOB conditions, the same range over the last five weeks, a local exporter told SteelOrbis.
The source said there are still expectations for a small increase in the short term, as producers are experiencing additional energy costs due to the country’s hydroelectric plants suffering from a dry season that has reduced water levels at the dams.
“We will receive more energy produced from fossil fuels, which are more expensive,” he added.