The reference price for Brazilian rebar exports is stable over the last two weeks at $490/mt, FOB conditions for the CA-50 grade.
Despite the fact that very few fresh deals for rebar exports are being closed, as an indirect effect of the Covid-19 outbreak, the volume being exported in March is expected to be higher than the 28,000 mt exported in February, as exports in February were affected by intense rain storms in the production areas of the Southeastern states of Minas Gerais and Espirito Santo, resulting in the postponement of shipments to March.