Brazilian producers are negotiating rebar for export to South American countries at $550/mt, against $540/mt last week, FOB conditions for the CA-50 grade, a local market source told SteelOrbis.
South American countries were the main destination of Brazilian rebar exports in June (42,800 mt at $563/mt), followed by Switzerland (6,500 mt at $635/mt) and the US (6,100 mt at $609/mt), all FOB conditions, with different quality grades and price deals probably closed in April.
Due to the lackluster performance of the Brazilian housing sector, local production of rebar has been reduced and the focus has moved to exports, chiefly to neighboring South American countries.