The reference price for the export of rebar by Brazilian producers to South American countries is now $600/mt, against a range of $590/mt to $600/mt last week, CFR conditions for the CA-50 grade.
Sources tell SteelOrbis the market is still defined by higher domestic demand and reduced domestic production, resulting in less material available for export and pushing prices upward.
In December, Gerdau exported 21,600 mt of rebar at $476/mt, while ArcelorMittal export 7,700 mt of the product at $606/mt, both FOB conditions, all destined to South American countries and different quality grades, with price deals probably closed in October.
Some exports could be destined to subsidiaries of the rebar producers, at prices not necessarily linked to market conditions.