Brazilian long steel producers split over rebar price hikes amid global downturn

Brazilian long steel producers are seemingly split over whether to raise domestic rebar prices for the eighth consecutive month in February, sources told Fastmarkets on Thursday January 28.

Steelmakers initially planned for an 8-15% increase for the beginning of February, but ArcelorMittal - the country's major rebar producer - was said to be rethinking that in light of the conflicting factors of a downturn in international markets and the continuing tightness in domestic supplies.  Companhia Siderúrgica Nacional (CSN), however, was still aiming for a 10% increase, sources said, while the country's other major producers, Gerdau and Simec, have yet to announce their plans. One mill source said there was a possibility of prices moving up once more, and another said that prices would definitely rise.  Distributor sources, meanwhile, said the silence from some of the companies this late into the month was “unusual.” ArcelorMittal, Gerdau, CSN and Aço Verde do Brasil (AVB) all refused to comment on the matter, while Simec did not respond to Fastmarkets’ requests for comment. Steelmakers had to cut output starting...

Published

Renato Rostás

January 28, 2021

14:09 GMT

São Paulo