The reference price for Brazilian export rebar for sales to South American countries is currently being heard at $440/mt, against $455/mt two weeks ago, FOB conditions for the CA-50 grade. A local market source confirmed this price point, adding that the reduction reflects the effect of the Covid-19 pandemic, which has reduced both demand and production. The pandemic has also resulted in a lower price level.
In June, Brazil exported 34,000 mt of rebar, against 39,900 mt in May, of which 7,400 mt shipped by ArcelorMittal to the US at $471/mt, both FOB conditions. The balance of Brazilian rebar exports was shipped to South American countries.
Total exports by ArcelorMittal reached 19,300 mt at $537/mt, while Gerdau exported 14,700 mt at $461/mt. In June, no rebar imports were registered by Brazilian customs authorities.
In the domestic market, rebar offers for medium to large volumes are available at BRL 3,776/mt ($708/mt), against BRL 3,518/mt two weeks ago, ex-works, full taxes except IPI, for the supply in the country’s Southeast and South regions. For the North and Northeastern regions, prices are reportedly at BRL 3,850/mt in average, under the same conditions.
USD = BRL 5.35 (July 6)