Sales of rebar by distributors in Sao Paulo are currently negotiated at BRL 3,784/mt ($1,202/mt), ex-works, full taxes except IPI, local sources told SteelOrbis.
The price, referring to the CA-50 grade, 10 mm thickness product, has been stable in BRL for over a month, although it increased in USD terms by 5.4 percent due to the recent devaluation of the USD vis-à-vis the BRL.
Meanwhile, 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 $566/mt, FOB conditions, against $615/mt one month ago.
USD = BRL 3.148 (January 26)