The reference price for the export of rebars by Brazilian producers is $880/mt, against $870/mt four weeks ago, FOB conditions for the CA-50 grade, for sales to South American countries.
In June, Brazil exported 18,000 mt and imported 1,600 mt of rebars, against respectively 53,400 mt and 8,600 mt in May.
The exports of June were all destined to South American countries shipped by ArcelorMittal (13,400 mt at $700/mt) and Gerdau (4,600 mt at $620/mt), FOB conditions.
The imports were from Turkey (1,500 mt at $622/mt), also FOB conditions, while small volumes were imported from Germany and China.
In the Brazilian domestic market, rebars are offered by producers in medium to large volumes at BRL 5,900/mt ($1,059/mt), against BRL 5,700/mt four weeks ago, ex-works, full taxes except IPI, for the supply in the country’s southeast and south regions.
The Brazilian steel institute IABr maintains expectations that rebar imports should increase in volume over the next months as the product is not subject to limiting quotas and higher import taxes.
Such imports are also expected to increase due to competitive freight rates chiefly from Turkey to a port in the southern state of Santa Catarina.
USD = BRL 5.57 (July 22)