The reference price range for the export of rebar by Brazilian producers to South American countries is $555/mt to $565/mt, against $560/mt to $570/mt last week, CFR conditions for the CA-50 grade, a local market source told SteelOrbis, adding that the reduction refers to lower FOB quotations, as freight rates were stable.
Reduced demand from South American countries and from a lackluster domestic housing sector remain negatively affecting prices. However, positive signs for the Brazilian economy, while new, are being reflected by a higher number of housing starts, so far limited to upscale buildings in the capitals of the states in the southeastern and south regions.