Steel Price Tracker: Rebar prices up R$45/t in Brazil last week

Research evidence excerpt

Steel Price Tracker: Rebar prices up R$45/t in Brazil last week

European Commission. Buying interest was weak, as

large buyers held back and pushed for lower bids to avoid committing at current price

levels amid regulatory uncertainty. At the same time, seasonally slower demand and

longer lead times into the summer further weighed on activity, reinforcing the cautious

tone across the market.

North America: HRC mill remain firm on pricing

Platts reported that weekly US steel prices were mixed last week, with HRC up $16.53/t

$1,179.5/t and rebar flat at $920/t. Lead times were flat at 6.1 weeks for HRC and down

to 8.3 weeks for CRC. According to Platts, US HRC spot buying remained limited, with

buyers largely relying on contract volumes amid tight availability and mills holding firm

on pricing. As for rebar, prices were mostly stable during the week, as buyers resisted

mills’ recent $30/st price increases amid still low demand conditions. While mills

attempted to push prices higher, market participants indicated limited willingness to

transact at elevated levels, suggesting ongoing cautious purchasing behavior.

Latin America: Brazilian rebar prices up w/w

According to Platts, Brazilian prices were up last week, with HRC flat at R$4,025/t, and

rebar up R$45/t to R$3,520/t. According to Platts, Brazilian flat steel mills announced a

new round of 6% price increases for mid-May, with additional hikes potentially being

prepared by other producers. Market participants indicated that the increases are

starting to be communicated but not yet fully reflected in transactions. As for rebar,

prices showed an upward bias following a second round of announced increases, with

some transactions reflecting cumulative hikes of up to 9-12% across April and May.