Domestic prices for steel rebar have been reduced in Brazil for November orders, with previous discounts from mills consolidating at even lower levels, Fastmarkets heard on Friday November 12.
Market participants were still seeing room for a price increase given the much higher import offers, and there were reports of some attempts for a 7% rise, but delivery at stable prices until the year-end was ensured."Brazilian rebar might be too [heavily] discounted compared with Turkish rebar, but there is excess supply...