The domestic rebar price in Brazil increased in July, with a 10% hike successfully implemented by producers due to previous moves to reduce supplies to match falling demand and due to resilience in the construction sector amid the Covid-19 pandemic.
Fastmarkets' latest price assessment for steel reinforcing bar (rebar) domestic monthly, delivered Brazil was 2,410-2,530 Reais ($451-474) per tonne on Friday July 10, an increase from 2,290-2,410 Reais per tonne on June 12 and the highest level since 2,450-2,600 Reais per tonne on June 7, 2019."Some buyers managed to secure orders for July with minimum price increases, of up to...