The domestic price of steel rebar remained stable in Brazil in June, but market participants were uncertain about the price outlook for the finished steel product, questioning the stability of the global price uptrend and noting lower scrap costs in the country.
There were reports of one mill announcing a price increase for the month and others debating whether such rise was feasible, but the majority of quotes were at the same level as reported in May.Fastmarkets assessed the price for steel reinforcing bar (rebar) domestic, monthly, delivered Brazil at 5,560-5,690 Reais ($1,086.11-1,111.50) per tonne on Friday June 11, unchanged from a month earlier and slightly down from 5,630-5,700 Reais per tonne on April 9.
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