The reference price range for Brazilian rebar exports to South American countries is $560/mt to $570/mt, CFR conditions for the CA-50 grade, stable from last week, a local market source told SteelOrbis.
The source mentioned that there was an offer by a Brazilian producer of a high-volume shipment to a Colombian client at $480/mt CFR conditions, but it was not possible to confirm that a deal was effectively closed at that price level.
According to the source, Brazilian rebar export prices remain under pressure from higher prices for billet used as feedstock to produce rebar and wire rod.
In October, ArcelorMittal exported 26,000 mt of rebar while Gerdau exported 8,700 mt, all destined to South American countries, at an average FOB price of $560/mt, with different quality grades and price deals probably closed in August.