The reference price for Brazilian rebar exports is currently in a range of $480/mt to $490/mt, against a level of $490/mt two weeks ago, FOB conditions for the CA-50 grade, for sales to South American countries.
The high export price level, when compared to international prices, still reflects a surge in demand from the domestic housing sector, while steel producers remain in the ramp-up process of their production units, resulting in low volumes available for export.
The last offer of 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, unchanged from two weeks ago.
In the domestic market, rebar is offered by producers in medium to large volumes at BRL 4,440/mt ($786/mt), against BRL 4,306/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 120/mt higher, under the same conditions.
USD = BRL 5.65 (November 3)