The reference price range for Brazilian rebar exports to South American countries is $570/mt to $580/mt, against $560/mt to $570/mt from two weeks ago, CFR conditions for the CA-50 grade, a local market source told SteelOrbis.
According to the source, the increase still reflects higher prices for billets used as feedstock to produce rebar and wire rod.
In November, Brazil exported 35,600 mt of rebar, against 26,000 mt in October. ArcelorMittal exported 23,600 mt at $570/mt FOB, while Gerdau exported 12,000 mt at $482/mt FOB.