The domestic price for Brazilian steel rebar dropped for the fourth consecutive month in September, with apparent long steel consumption faltering, smaller producers increasing the discounts granted to customers, and ferrous scrap costs holding steady.
Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, was 2,125-2,300 Reais ($519-561) per tonne on September 6, down from 2,300-2,400 Reais per tonne on August 2.The midpoint of the price range has fallen by 21.8% over the year to date, when compared with 2,800-2,860 Reais per tonne on January 4.As smaller producers such as Simec and A??o Verde do Brasil (AVB) lowered their offer price for September, an attempted increase of 7% by Gerdau and ArcelorMittal was unsuccessful, according...