The domestic price of Brazilian rebar has shown another drop for August deliveries because the scrap price downtrend has intensified, smaller competitors were aggressive about granting discounts, and overall long-rolled steel consumption in the country went down.
Fastmarkets assessed the price for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, at 2,300-2,400 Reais ($601-627) per tonne on Friday August 2, compared with 2,370-2,480 Reais per tonne one month earlier.This was the lowest level since 2,200-2,400 Reais per tonne on April 6, 2018.Despite continuing efforts from local companies to increase their selling prices, customers were looking away from expensive offers and striking discounted deals with smaller suppliers, market participants reported.Simec, Silat, Companhia Sider??rgica Nacional (CSN), A??o Verde do Brasil (AVB) and Sinobras were pushing overall pricing...