Domestic rebar price climbs to 13-month high in Brazil on supply cut, demand recovery

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.
All rebar suppliers decided to raise their price by around 10% during the first few days of July to this 13-month high, market participants said. Some producers, however, conceded a postponement in part of that increase to their clients, splitting the impact between July and August, sources added.

"Some buyers managed to secure orders for July with minimum price increases, of up to...

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