Brazilian steel prices have reached an equilibrium in comparison with international prices and are expected to remain at current premiums to imports, Gerdau chief executive officer Gustavo Werneck said on Wednesday February 24.
The CEO estimates that the domestic rebar premium over imports reached 15% in February, and that the premium for domestic hot-rolled coil climbed to 11%. There is still cost pressure coming from an increase seen in the price of raw materials such as iron ore, coal and scrap, but with weaker momentum than seen at the end of 2020.Fastmarkets assessed the price of steel reinforcing bar (rebar) domestic monthly, delivered Brazil at 4,720-4,860 Reais ($865-891) per tonne on February 12, up from 4,495-4,575 Reais per tonne...