According to the country‘s ministry of development industry and foreign trade (MDIC), in April, 2015, Brazil imported 41,100 mt of steel rebar, increased 180% to a record high from that in March. But, the price went down by 5.4 percent from the $544/mt FOB of March to an average FOB price of $514/mt.

In spite of being a large producer of steel rebar and having its mini-mills currently operating at a low production pace, Brazil remains attractive for imported steel rebar due to the high domestic prices, which according to a distributor in the southeast are currently at $1,118/mt, CFR full taxes for the CA50 grade, 10mm thickness product, stable since a 12 percent increase since April l.

According to the sources, the reason the local demand for rebar remains low is because of the stoppage of works directly or indirectly linked to the oil company Petrobras who is under investigation on accusations of corruption. Meanwhile, Brazil exported 27,500 mt of steel rebar in April, declined 21% from that in March, at an average FOB price of $650/mt.


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