Offers for Brazilian rebar exports are currently $470/mt, FOB conditions for the CA-50 grade, for sales to South American countries, the same as two weeks ago.
In September, Brazil exported 19,600 mt of rebar, against 25,800 mt in August. No rebar imports were registered in September.
The exports of September were almost entirely destined to South American countries. ArcelorMittal exported 14,200 mt at $528/mt, while Gerdau exported 5,400 mt at $460/mt, both FOB conditions and different quality grades.
The last offer for import rebar from China was priced at $529/mt, against $532/mt two weeks ago, CFR conditions to a port in the south or southeast coast of the country, with reference to the QC/HRB400 grade.
In the domestic market, rebar offers for medium to large volumes are at BRL 4,189/mt ($744/mt), against BRL 3,986/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 90/mt higher, under the same conditions.
Sources told SteelOrbis that with increased domestic demand and a low production pace, as plants are still in a ramp-up process after stoppages due to the Covid-19 pandemic, domestic rebar prices have increased substantially, chiefly for small consumers that have no direct access to the steel producers, having to rely on the supply by distributors.
USD = BRL 5.63 (October 7)