Brazilian producers remain negotiating rebar for export to South American countries in a price range of $540/mt to $550/mt, FOB conditions for the CA-50 grade, the same range over the last four weeks.
In May, Brazil exported 49,800 mt of rebar, against 37,300 mt in April. The shipments were all destined to South American countries, in average at $528/mt, FOB conditions, with price deals probably closed in March. Gerdau exported 29,800 mt at $484/mt, while ArcelorMittal exported 20,000 mt at $594/mt, both FOB conditions.
A local trader mentioned that producers are operating at low production pace, without material available to traders and giving priority to the local market.