The reference price for Brazilian rebar exports to South American countries is now $1,100/mt, against $1,270/mt three weeks ago, FOB conditions for the CA-50 grade.
In April, Brazil exported 59,700 mt and imported 5,200 mt of rebar, against respectively 49,500 mt and 14,400 mt in March.
The exports of April were destined to South American countries (51,700 mt at $766/mt) and to the US (8,000 mt at $727/mt), FOB conditions. ArcelorMittal exported 37,200 mt at $769/mt and Gerdau 22,500 mt at $747/mt, FOB. The imports were all from Turkey at $812/mt FOB.
In the Brazilian domestic market, rebar is offered by producers in medium to large volumes at BRL 6,400/mt ($1,309/mt), against BRL 7,431/mt three weeks ago, ex-works, full taxes except IPI, for the supply in the country’s southeast and south regions. The decline reportedly reflects lower international price of the product and exchange rate variations.
The reduction of the import tax of the product, as previously informed by SteelOrbis, has also played a role, as the domestic price is based on the price of the imported product after clearing customs.
USD = BRL 4.89 (May 20)