Brazil's domestic rebar prices remained stable in the last week of December, with market participants doubtful that a potential price increase in January could be absorbed, sources said.
The S&P Global Platts weekly assessment for 10 mm diameter rebar held at Real 1,622/mt ($498.35/mt) ex-works, taxes excluded, based on a range of Real 1,599-1,645/mt.
A distributor said that while he was informed of a possible January mill price increase, he did not believe market conditions would support it.
"December was a terrible sales month and January is seasonally even worse," he said. "Real bad timing for a price hike."
