ArcelorMittal, Gerdau aim for 12% Brazilian rebar price increase in January

Brazilian rebar suppliers ArcelorMittal and Gerdau have announced a price hike of up to 12% for January orders, Fastmarkets understands.

Steelmakers have been trying to increase the price of rebar in the country since September, with Gerdau pushing for a 7% rise in that month. But the market only started to recover in October and the hike was lower than suppliers expected.

Fastmarkets’ most recent price assessment for steel reinforcing bar (rebar) domestic monthly, delivered Brazil was 2,220-2,320 Reais ($529-553) per tonne on November 1, up from 2,165-2,300 Reais per tonne...

Published

Renato Rostás

November 25, 2019

14:59 GMT

São Paulo