The reference price for Brazilian rebar exports is now at $490/mt, FOB conditions for the CA-50 grade, for sales to South American countries, against $470/mt two weeks ago.
The increase reflects a temporary shortage of rebar in the domestic market, due to a surge in demand from the housing sector, while steel producers remain in the ramp-up process of their production units.
The last offer for import rebar from China was priced at $530/mt, CFR conditions to a port in the south or southeast coast of the country, with reference to the QC/HRB400 grade, little changed from $529/mt two weeks ago.
In the domestic market, rebar is offered by producers in medium to large volumes at BRL 4,306/mt ($772/mt), against BRL 4,189/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 100/mt higher, under the same conditions.
USD = BRL 5.58 (October 20)