The reference price for Brazilian rebar exports, following a $45/mt decline last week, has remained stable in the last week at $490/mt, FOB conditions for the CA-50 grade, a local market source told SteelOrbis.
In February, ArcelorMittal exported 19,300 mt of rebar at $563/mt, while Gerdau exported 8,700 mt at $434/mt, both FOB conditions and different quality grades, all destined to South American countries.
The volume of rebar exports from Brazil is expected to increase in March, as exports in February were affected by intense rain in the production areas of the Southeastern states of Minas Gerais and Espirito Santo, resulting in the postponement of shipments to March.