Brazil's domestic rebar price slightly down on selective discounts amid Covid-19 slowdown

Brazil's domestic rebar price fell slightly in the first week of May, with selective discounts applied to encourage trade, while individual states impose their own lockdown measures to combat the Covid-19 virus, sources told Fastmarkets.

Despite this, market participants said they expected prices to stabilize in the coming months.
Fastmarkets most recently assessed the price for steel reinforcing bar (rebar) domestic monthly, delivered Brazil, at 2,290-2,410 Reais ($400-421) per tonne on Friday May 8, down by 1.3% on the midpoint of the range from 2,310-2,450 Reais per tonne a month earlier.

While the assessed range had fallen, it still...

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