Brazilian producers remain negotiating rebar for export to South American countries in a price range of $550/mt to $560/mt, FOB conditions for the CA-50 grade, the same range for two consecutive weeks.
But a local source maintains expectations for higher export prices in the short term, citing factors such as higher production costs, chiefly energy and scrap, along with a current uptrend for most steel prices.
In April, Brazil exported 37,300 mt of rebar, in average at $528/mt, FOB conditions for different quality grades, with price deals probably closed in February. The volume was all destined to South American countries, with Gerdau exporting 21,800 mt at $479/mt, while ArcelorMittal exported 15,500 mt at $598/mt, both FOB conditions.