Brazilian producers are negotiating rebar for export to South American countries in a price range of $570/mt to $600/mt, against a range of $550/mt to $570/mt last week, both FOB conditions for the CA-50 grade.
A local market source mentioned that further price increases are expected over the next few weeks, following the international trend for the price of most steel products.
However, Brazilian producers continue to be concerned about the competitiveness of long products and access to other markets, due to the high energy tariff that producers pay to operate their electric arc furnaces (EAF), a problem now coupled with increasing scrap prices. Producers say they will remain focused on the more logistically-favored markets of South America.