Brazil's domestic rebar prices rose last month after local producers were able to successfully apply price increases due to lower competition, increased transportation costs and a slight recovery in the construction sector.
Metal Bulletin's monthly price assessment for Brazilian rebar was 2,500-2,830 Reais ($673-761) per tonne delivered (taxes excluded) on Friday August 3, compared with 2,380-2,580 per tonne delivered in early July. Since January this year, Metal Bulletin has excluded a series of taxes from its Brazilian domestic steel price assessments. Brazilian suppliers were successful in applying price increases throughout July due to lower competition from imported material and...