Brazilian steelmakers will raise the domestic price for long steel products such as rebar by an average of 12% in December, market participants have told Fastmarkets.
This will make it the sixth consecutive month of higher prices in Brazil, because of the quick demand recovery from 2020 lows caused by the Covid-19 pandemic. Long steel producers increased prices by around 10% in November.Fastmarkets' latest price assessment for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, was 3,515-3,680 Reais ($657-688) per tonne on November 13, up from 3,220-3,430 Reais per tonne...