Brazil exported 67,100 mt of rebar in March, 98 percent more than in February, at an average FOB price reduced by 4.6 percent to $498/mt, said the local ministry of development, industry and foreign trade, MDIC.
The top exporters were Gerdau (51,300 mt at $523/mt) and ArcelorMittal (12,300 mt at $393/mt), while Aco Cearense exported 1,500 mt at $345/mt and the Votorantim Group exported 1,200 mt at $599/mt, all FOB conditions.
A source from a major exporter told SteelOrbis that his last export sales were closed at $400/mt, also FOB conditions.
Most of the exports of March were destined to South American countries (65,500 mt), while 1,600 mt were destined to Africa.
Meanwhile, Brazil imported a mere 1,000 mt of rebar from Turkey in March at $446/mt, FOB conditions, against an average of 11,000 mt per month in 2015, a downturn reflecting not only the reduced demand from the civil construction sector in Brazil, but also the excess of offer of the product in the domestic market.
A source from a distributor in Rio de Janeiro told SteelOrbis that he is selling the CA-50 grade, 10mm thickness product in the domestic market at BRL 2,840/mt ($805/mt), CFR, full taxes conditions, equivalent to $607/mt FOB conditions, no taxes included.
1 USD = BRL 3.53 (April 15)