Brazilian producers are negotiating rebar for export to South American countries in a FOB price range of $560/mt to $590/mt, against a range of $590/mt to $600/mt last week, FOB conditions for the CA-50 grade.
The reduction has frustrated expectations for higher prices by the Brazilian producers, with lower prices ascribed to weak demand from South American countries.
In February, ArcelorMittal exported 28,200 mt of rebar at $595/mt, while Gerdau exported 11,200 mt at $538/mt, FOB conditions with price deals probably closed in December. The volume of rebar shipped in February was almost entirely shipped to South American countries.