Brazilian producers remain negotiating rebar for export in a range of $570/mt to $590/mt, FOB conditions for the CA-50 grade, the same reference price for two weeks, a local source told SteelOrbis.
According to the source, rebar exports remain as a marginal activity for producers, as the focus remains with the more profitable domestic market.
Brazilian exports of long steel products have lost competitiveness over the last years, due to the high local power rates, which have increased production costs at the country’s electric arc furnaces (EAF) plants.
A peak of 64,000 mt of rebar was exported in average per month in 2005, but was consistently reduced until the monthly average of 46,000 mt seen so far in 2018.