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Rebar prices rise in Brazil due to construction boom - 5 April 2012

Brazilian domestic prices for long products appear to be recovering, boosted by huge demand from the construction sector – especially from the government's new infrastructure program and housing projects.

Independent distributors and service centers say the average price (fob mill, excluding taxes) for 12mm rebar recently increased to R$1744-1780/t (US$968-990/t), up from R$1660-1720/t (US$922-955/t), following a 5-7% hike by local producers Gerdau and ArcelorMittal for February and March bookings.

"Currently, demand for rebar is very positive and supplies are good," says a local distributor, adding that Turkey has carved out a large chunk of this business.

According to Brazilian constructors' chamber CBIC, activity is expected to beat last year's low single-digit growth rate by increasing 5% year-on-year in 2012.


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