A source from a Brazilian steel producer told SteelOrbis that the company is considering a 10 percent price increase for its entire line of long products in both the domestic and export markets, to be effective as of March 1, 2017.
He mentioned that until then, the current prices are maintained in the range of $440/mt to $470/mt, FOB conditions, for rebar exports having the CA50 grade, 10mm thickness product as reference.
Brazilian producers exported 40,000 mt of rebar in January, 22 percent less than in December 2016, at an average price increased by 2.8 percent to $445/mt, FOB conditions, according to the country’s ministry of industry, foreign trade and services, MDIC.
Gerdau was the top exporter, with 37,400 mt at $440/mt, while the Votorantim group exported 1,800 mt at $503/mt, all FOB conditions with price deals probably closed in November 2016.
South American countries were the main destination, with 24,000 mt at $525/mt, while 15,900 mt was shipped to the Caribbean at $323/mt, both FOB conditions.