According to statistics from the Brazil Ministry of Development, Industry and Foreign Trade (MDIC), Brazil exported around 2,500 tons of rebar in April, dropping by 57.6% compared to the same month a year ago. Among them, exports to Bolivia, Paraguay, and Peru accounted for 98.8%.

In the first four months of this year, Brazil’s rebar exports amounted to approximately 142,000 tons, a year-on-year decrease of nearly 29%.

In terms of imports, the volume reached 4,800 tons, down by 7.5% year on year. The imports in the January-April period totaled nearly 40,000 tons, a year-on-year decrease of 2.6%.

Due to weak demand and a highly competitive market, Brazilian steel manufacturers failed to raise prices. Market participants in the steel industry also foresaw a bearish market outlook in 2023, with decreased economic activity.