The reference price for Brazilian rebar exports is currently $535/mt, against $550/mt last week, FOB conditions for the CA-50 grade, a local market source told SteelOrbis.
The source mentioned that the decline reflects attempts by Brazilian producers to offer prices compatible with international markets, as importers in South America were receiving offers with more competitive prices at CFR conditions.
In January, ArcelorMittal exported 39,300 mt of rebar at $569/mt, while Gerdau exported 2,900 mt at $469/mt, both FOB conditions, different quality grades and price deals probably closed in November. Most of the volumes were exported to South American countries, except for small volumes shipped to the US and Jamaica.