Steel Price Tracker: Rebar prices down in Brazil w/w

Research evidence excerpt

Steel Price Tracker: Rebar prices down in Brazil w/w

HRC prices remained broadly stable, with spot activity

subdued as market participants continued to assess the impact of the EU’s new

safeguard quotas. Buyers remained on the sidelines given comfortable inventory levels,

while mills increasingly signaled higher target prices around €700/t. Although demand

remains muted in the near term, market participants expect shrinking import availability

and gradually lower inventories to redirect demand toward domestic producers over the

coming months.

North America: tight supply supports HRC

Platts reported that weekly US steel prices were flat last week, with HRC steady at

$1,256.6/t and rebar at $945/t. Lead times were up to 7.3 weeks for HRC and flat at 8.8

weeks for CRC. According to Platts, US HRC prices remained stable following the

holiday-shortened week, with limited spot trading activity. However, market sentiment

remains constructive as some buyers reported difficulties obtaining new spot quotes

from mills, pointing to tightening supply conditions. With lead times extending into

September and producers showing limited availability, market participants increasingly

expect flat steel prices to move higher in the coming weeks.

Latin America: weak demand keeps prices under pressure

Brazilian prices were mixed last week, with HRC flat at R$4,075/t, and rebar down

R$27.2/t to R$3,625/t. According to Platts, Brazilian flat steel prices remained stable

despite mills attempting to implement price increases, as weak demand limited buyers’

willingness to accept higher offers. In long steel, rebar prices continued to soften amid

discounting by some mills and elevated inventories, although demand was described as

slow but resilient.