Steel Price Tracker: Brazilian rebar prices up 4.3% w/w

Research evidence excerpt

Steel Price Tracker: Brazilian rebar prices up 4.3% w/w

Europe: uncertainty over safeguard quotas remains

According to Platts, European HRC market conditions remained subdued, with prices

largely unchanged as market participants awaited clarity on upcoming safeguard quotas.

Activity was limited as uncertainty over import allocations weakened sellers’ negotiating

position. Market participants suggested mills may be deliberately restricting production

in an attempt to support future price increases, but for now trading remained minimal,

with buyers focused on managing inventories and delaying purchasing decisions.

North America: HRC prices continue to increase

Platts reported that weekly US steel prices were mixed last week, with HRC up $11.02/t

w/w to $1,223.5/t and rebar flat at $950/t. Lead times were up to 6.6 weeks for HRC

and flat at 8.8 weeks for CRC. According to Platts, US steel market dynamics remained

relatively firm, with HRC showing a mixed trend as Southern prices moved higher while

Midwest levels held steady, reflecting mills’ attempts to push offers amid tight domestic

supply and extended lead times. In long steel, rebar prices were broadly stable, with

distributors noting improvements in shipments at the start of June but an overall volatile

demand pattern. Market participants remained cautious, closely monitoring scrap trends

and uneven inventory conditions across regions, while sentiment pointed to balanced

fundamentals with modest support from seasonal demand.

Latin America: rebar prices up 4.3% w/w

Brazilian prices were mixed last week, with HRC flat at R$4,025/t and rebar up R$152.5/t

to R$3,672.5/t. Rebar prices increased as mills pushed a second round of hikes despite

earlier market skepticism. However, acceptance remains uneven, with parts of the