Brazilian producers are negotiating rebar for export to South American countries in a price range of $590/mt to $600/mt FOB, the same as last week, FOB conditions for the CA-50 grade.
Price increases are still expected for the next weeks, in line with the international trend for the prices of most steel products, a local market source mentioned to SteelOrbis.
In February, Brazil exported 39,400 mt of rebar, in average at $573/mt, FOB conditions, with price deals probably closed in December 2018. ArcelorMittal exported 28,200 mt at $595/mt FOB, while Gerdau exported 11,200 mt at $538/mt FOB. With the exception of 300 mt shipped by Gerdau to Angola at $747/mt, the remaining 39,100 mt of Brazilian rebar exports in February were destined to South American countries, in average at $573/mt FOB.