Brazil's August rebar exports slump 79 percent on lack of exports to Peru
Brazil exported 9,400 mt of rebar and imported 1,800 mt in August, down respectively from 44,800 mt exported and 19,600 mtmported in July, according to data from Secex, the foreign trade secretariat of Brazi's Ministry of Development, Industry and Foreign Trade.
The decline reflects a lack of exports to Peru in August, against 23,800 mt in July, while lower imports reflect a 91 percent decine in volume of shipments from Egypt.
All exports went to South American countries, averaging $699/mt under FOB conditions. ArcelorMital shipped 7.300 mt at $691/mt, while Gerdau shipped 2,100 mt at $726/mt, FOB conditions.
mports came from Egyp, with 1.600 mt at $573/mt, a 91 percent decline in volume from July, and Russia, with 200 mt at $473/mt, also under FOB conditions.
A small import from Germany was priced at $1.618/mt, which clearly does not reflect a market price.
From: Steel Orbis
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