The last rebar offer received from China by Brazilian importers was priced at $530/mt, against $550/mt one month ago, CFR conditions in a port in the south or southeast coast of Brazil, referring to the QC/HRB400 grade.
Regardless of the lower prices, no rebar was imported by the country during November and December 2018, according to the local customs authorities.
The scenario reflects the poor performance of the local civil construction sector, chiefly housing, the main demanding sector for rebar and also one of the most severely affected sectors under the current economic downturn in Brazil.
A small distributor in Rio de Janeiro told SteelOrbis that he is selling rebar in very small volumes in the domestic market at the equivalent to BRL 4,044/mt ($1,072/mt), full taxes and freight included. Such price can receive substantial discounts in case of large volumes or direct sales by the steel producers.
USD = BRL 3.77 (January 25)