Brazil exported 70,000 mt of rebar in August, 96 percent more than in July and the highest monthly volume since July 2016. The average FOB export price declined by 2.2 percent to $467/mt.
Gerdau was the top exporter, with 68,300 mt at $466/mt FOB, followed by the Votorantim group with 1,500 mt at $494/mt FOB, while smaller tonnages were exported by Sinobras, Vetorial and ArcelorMittal, with price deals probably closed in June.
The destinations were South American countries (54,400 mt at $466/mt FOB) and the US (15,600 mt at $471/mt FOB).
Currently, Brazilian rebar export prices are being negotiated in a range of $630/mt to $650/mt, FOB conditions, unchanged in two weeks, a local exporter told SteelOrbis.