Sales of rebar by distributors in Sao Paulo are currently negotiated at BRL 3,953/mt ($1,218/mt), ex-works, full taxes except IPI, local sources told SteelOrbis.
The price, referring to the CA-50 grade, 10 mm thickness product, compares with BRL 3,784/mt one month ago. Although the price reduced in BRL terms, the price is roughly stable in USD due to the exchange rate variation over the period.
Brazilian imports of rebar have virtually stopped since 8,900 mt were imported in July from Peru at $458/mt, FOB conditions. The last import rebar offer, received this week from China by Brazilian importers, was priced at $545/mt, FOB conditions, against $566/mt FOB one month ago.
USD = BRL 3.244 (February 23)