Gerdau expects short-term price recovery for long steel in Brazil

Latin American steelmaker Gerdau is expecting a price recovery in Brazil in the short term, especially for rebar, following the recent global uptrend and some domestic weakness reported in the last month.

While local rebar is typically sold at a 10-15% premium over imports, this has not been the case in recent weeks, the mill’s chief executive officer Gustavo Werneck said on Thursday February 21 in a conference call to discuss its results for 2018. “We’ve been seeing a strong increase in international prices and because of that, premiums over imports went close to zero. “That said, we imagine...

Published

Renato Rostás

February 22, 2019

05:43 GMT

São Paulo