Brazilian producers are negotiating rebar for export at $467/mt, FOB conditions, having the CA-50, 10mm thickness product as reference. The price is stable since an 8 percent increase in early July.
With reduced domestic demand, rebar exports are gaining momentum, having increased to 65,400 mt in July, 21 percent more than in June. Most of the volume, 51,000 mt, was shipped by Gerdau to clients in South America.
Total exports by Gerdau reached 64,900 mt at $443/mt, while the Votorantim group exported 400 mt at $432/mt, both FOB conditions, with price deals probably closed in May.
Destinations other than South America were the Caribbean (5,000 mt) and the US (6,100 mt).