Peruvian rebar prices reach US$1,300/t

Rebar prices have sharply increased in the Peruvian market, with the product being negotiated for around US$1,290-$1,300/tonne delivered, an inside source at steelmaker Aceros Arequipa tells Steel Business Briefing.

As previously reported by SBB, the product was US$1,050-$1,100/t in the first half of April. Notwithstanding, there is no readjustment foreseen in the near future, the source says.

The increase follows hikes in international steel prices and higher raw materials costs.

Furthermore, in order to better supply growing domestic demand, local steelmakers Arequipa and Siderperu have been importing large volumes of rebar, boosting the product’s cost.

Publication: SBB - Steel Business Briefing
Provider: Steel Business Briefing
Date: May 30, 2008