The reference price for Brazilian rebar exports is now at $840/mt, against $860/mt four weeks ago, FOB conditions for the CA-50 grade, for sales to South American countries.
In February, Brazil exported 4,900 mt and imported 2,100 mt of rebar, against respectively 28,000 mt and 35,200 mt in January.
The sharp decline in volume reflects the postponements of shipments from February to March, due to the holiday period in Brazil during the month.
The exports of February were all destined to South American countries, in average at $691/mt, shipped by ArcelorMittal (4,300 mt at $706/mt), and Gerdau (600 mt at $567/mt), FOB conditions.
The imports were from Egypt (1,600 mt at $609/mt), and Turkey (500 mt at $606/mt), also FOB conditions.
In the Brazilian domestic market, rebar is offered by producers, in medium to large volumes, at BRL 5,630/mt ($1,122/mt), against BRL 5,650/mt four weeks ago, ex-works, full taxes except IPI, for the supply in the country’s southeast and south regions.
USD = BRL 5.02 (March 18)