Reflecting no rebar exports to the US in September, against 15,600 mt in August, Brazilian exports of the product in September reached only 36,400 mt, against 70,000 mt in August, according to the country’s ministry of industry, foreign trade and services, MDIC.
The average FOB price declined by 2.6 percent to $480/mt, for price deals probably closed in July.
Gerdau exported 32,800 mt at $474/mt, while the Simec plant at Pinda, Sao Paulo State, exported 2,100 mt at $520/mt, both FOB conditions. Meanwhile, negligible volumes of rebar were exported by Vetorial and Sinobras in September. Overall, the exports were entirely shipped to South American countries.
Brazilian producers are currently negotiating rebar export prices at $630/mt, FOB conditions, a price considered slightly high for the international markets.
According to a local exporter, power rates today are the highest in recent years, affecting the competitiveness of the Brazilian exports of rebar, which are produced primarily in EAF mills.