Brazilian rebar price drop confirms signs of downturn

The domestic price for steel rebar in Brazil - which had not moved in three months - fell on Friday August 13 amid mill discounts, confirming lingering signs of a downturn.

In Brazil, rebar supply recovered in 2021, and scrap prices started being cut. The global scenario lent headwinds to the Brazilian rebar price, with a downturn seen particularly in Turkey.
Brazil-based steelmakers often follow international trends, selling their products at an average premium of 10% over imports after duties, taxes and overall costs. In the case of long steel, the Turkish market is viewed as the benchmark.

Fastmarkets' price assessment for steel reinforcing bar (rebar) domestic, monthly, delivered Brazil was 5,100-5,310 Reais ($975-1,015) on Friday,...

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