As reported by the portal Fastmarkets, the domestic price of reinforcing steel (rebar) in Brazil rose for the fifth consecutive month as demand remained strong and inventories remained low, according to market participants.
Fastmarkets’ monthly valuation of domestic prices for rebar in Brazil reached $3,515-3,680 reais ($644-674) per tonne on Friday November 13th, an increase of 8.2% in the middle of the range of 3,220-3,430 reais per tonne on October 9th.
Most volumes were purchased at 3,515-3,555 reais per tonne, while new offers were made at 3,640-3,680 reais per tonne, particularly to smaller participants.
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