The last rebar offer received from China by Brazilian importers was priced at $515/mt, against $530/mt one month ago, both CFR conditions, in a port in the south or southeast coast of Brazil, referring to the QC/HRB400 grade.
Regardless of the lower prices, no rebar tonnages were imported by the country in January, according to the local customs authorities.
The scenario still reflects the poor performance of the local civil construction sector, chiefly housing, the main demanding sector for rebar and also one of the most severely affected sectors under the current economic downturn in Brazil
A small distributor in Rio de Janeiro told SteelOrbis that he is selling rebar in very small volumes in the domestic market at BRL 4,108/mt ($1,100/mt) delivered to customer, against BRL 4,044/mt one month ago, full taxes and freight included. Such price can receive substantial discounts in case of large volumes or direct sales by steel producers.
USD = BRL 3.74 (February 22)