Brazilian producers are negotiating rebar for export at $580/mt, FOB conditions, a local exporter told SteelOrbis. The price, referred to the CA-50 grade, is now stable over three weeks.
A second source, linked to a local trader, mentioned offers to clients in the US at $600/mt, FOB conditions, adding that the production of long products was reduced in May, due to a two-week strike by truck drivers. According to the source, there is a shortage of long products available for export, as steel producers are giving priority to supplying the domestic market and their associated companies abroad.
In May, Brazil exported 44,600 mt of rebar, against 54,300 mt in April. The main destinations were Bolivia (19,200 mt at $579/mt), Colombia (7,000 mt at $575/mt), Peru (6,100 mt at $575/mt), Argentina (5,200 mt at $623/mt), Puerto Rico (5,000 mt at $568/mt) and Paraguay (1,700 mt at $586/mt), all FOB conditions and price deals probably closed in March.