Brazil exported 42,200 mt of rebar in May, 7.2 percent less than in April, at an average price 2.4 percent lower, $390/mt, FOB conditions, said the country’s ministry of development, industry and foreign trade, MDIC.
Most of the volume, 41,200 mt, was exported by Gerdau, with prices averaging at $383/mt, while Votorantim exported 600 mt of the product at $625/mt, both FOB conditions at price deals probably closed in March.
The main destinations were South America (25,500 mt at $411/mt), the Caribbean (10,000 mt at $324/mt) and the US (6,700 mt at $407/mt), all FOB conditions, the latter being the first export of rebar from Brazil to the US since 2010.
A source from a major exporter told SteelOrbis that his last export deal for rebar, having the CA-50 grade, 10mm thickness product as reference, was closed at $430/mt, FOB conditions.