A source from a Brazilian exporter confirmed that the export price for rebar has effectively increased since December 1.
With the 12 percent increase, the FOB price is now $520/mt, having as reference the CA-50 grade, 10mm thickness product.
In November, Brazil exported 50,700 mt of rebar, 7 percent less than in October, at an average FOB price increased by 3 percent to $433/mt, with price deals probably closed in September.
The exports were almost entirely by Gerdau (50,000 mt at $430/mt), while Votorantim exported 500 mt at $583/mt and Sinobras 100 mt at $834/mt, all FOB conditions.
Latin American countries were the main destination with 48,400 mt, while 2,300 mt was shipped to Africa.