The reference price for Brazilian rebar exports is currently $750/mt, against $790/mt, two weeks ago, FOB conditions for the CA-50 grade, for sales to South American countries.
In March, Brazil exported 32,900 mt of rebar while importing 31,000 mt of the product, against 27,800 mt and 15,800 mt, respectively, in February.
The destinations of the exports in March were South American countries (24,600 mt at $659/mt), Jamaica (7,900 mt at $379/mt) and Benin (400 mt at $1,306/mt), all FOB conditions.
The exporters were ArcelorMittal (20,300 mt at $673/mt) and Gerdau (12,600 mt at $477/mt), both FOB conditions.
The imports came from Turkey, in average at $472/mt FOB and mostly destined to traders in the southeastern state of Santa Catarina, which has exempted the state tax ICMS for imported steel products.
In the Brazilian domestic market, rebars are offered by producers in medium to large volumes at BRL 5,574/mt ($1,010/mt), against BRL 5,507/mt two weeks ago, ex-works, full taxes except IPI, for the supply in the country’s southeast and south regions. For the north and northeastern regions, prices are reportedly BRL 60/mt higher, under the same conditions. The increase reflects chiefly higher international prices of the product.
USD = BRL 5.52 (April 20)