Producer push halts sharp downturn in rebar in Brazil

The latest attempt by steel mills in Brazil to impose an increase in the domestic price of rebar has managed to stop a previous freefall seen in late September, although the rise that was implemented was smaller than was intended, Fastmarkets heard on Friday October 4.

Fastmarkets’ latest price assessment for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, was 2,165-2,300 Reais ($526-559) per tonne on October 4, compared with 2,125-2,300 Reais per tonne on September 6. The September assessment was a year-to-date low for the price in 2019. All of the steelmakers in the country, led by the two largest, ArcelorMittal and Gerdau, announced a 7% price rise for September, although this was not implemented until the second half of...

Published

Renato Rostás

October 04, 2019

16:13 GMT

São Paulo