Brazil exported 40,300 mt of rebar in March, 20 percent more than in February, at an average price reduced by 1.4 percent to $529/mt FOB, said the local ministry of industry, foreign trade and services, MDIC.
The tonnage was entirely shipped to South American countries, chiefly by Gerdau (36,600 mt at $533/mt FOB), while the Votorantim group exported 2,900 mt at $473/mt FOB, with price deals probably closed in January.
However, sources note that some of those shipments were destined to subsidiaries of the exporting companies, at prices not necessarily linked to market conditions. The most recent rebar export deals are being reportedly closed at $450/mt, FOB conditions.
A 10 percent price increase was announced twice by local producers but has not been adopted so far.