Domestic rebar prices stable in Brazil

Stable in BRL since early July, the price of rebar in the Brazilian domestic market is currently BRL 3,420/mt ($1,049/mt), ex-works, full taxes except IPI.
 
Such price is equivalent to $790/mt, ex-works, no taxes included, considering the CA-50, 10mm thickness product as reference.
 
A distributor in Rio de Janeiro said that the volume of sales remains very low, about 20 percent less on yearly basis, reflecting the crisis in the local civil construction sector. "The new government and the change in the economic authorities did not modify the scenario so far," he said.
 
Another source from a medium-sized housing contractor said that he did not buy rebar over the last two months, as housing starts are very rare today.
 
$1 = BRL 3.26