The reference price for the export of rebar by Brazilian producers to South American countries remains at $590/mt, the same as last week, CFR conditions for the CA-50 grade, a local market source told SteelOrbis.
Prices remain pushed by increased domestic demand, due to a recovery of the local housing sector, which coupled to a still reduced domestic steel production results in less material available for export. Sources say increased prices are expected for the next few weeks.
In December, Brazil exported 29,300 mt of rebar, against 35,600 mt in November. The volume was all destined to South American countries, with Gerdau exporting 21,600 mt at $476/mt and ArcelorMittal exporting 7,700 mt at $606/mt, both FOB conditions, different quality grades and price deals probably closed in October.