Brazil imported 27,000 mt of rebars in January, against only 2,400 mt in December, according to the country’s ministry of development, industry and foreign trade, MDIC.
All the tonnage was shipped from Turkey, at an average FOB price 6 percent lower at $574/mt.
Meanwhile, Brazil exported 25,800 mt of rebar in January, 5 percent less than in December, chiefly to associated companies abroad, at an average FOB price stable, $718/mt.
In the domestic market, a producer in the north told SteelOrbis that the company has increased its prices and is now selling the CA-50, 10mm diameter product at BRL2,780 ($970/mt), CFR, full taxes, to clients in the southeast, comparable to BRL2,590/mt at the end January.
Due to exchange rate variation, such 7.3 percent increase in BRL, was reduced to a 1.7 percent variation in $ terms.
Meanwhile, a producer in the southeast told SteelOrbis that he is selling the same product, under the same conditions, at BRL2,996/mt, the same price in BRL from one month ago, but in $ terms the price went down by 5.5 percent during the period.
In a problem encompassing the market for long products, sales of rebar were also affected by the economic crisis in the country, as investments directly or indirectly linked to the official oil company Petrobras were put on hold, while authorities are investigating accusations of corruption in the company.