Brazilian domestic rebar prices remained unchanged in the week ended Friday, despite talks of potential price hike, sources said.
The S&P Global Platts weekly assessment for Brazil's domestic 10 mm diameter rebar remained at the midpoint of Real 1,909/mt ($611.28/mt) ex-works, taxes excluded, based on a range of Real 1,890-1,929/mt in the week ended on August 4.
"It was predicted a price raise but mills retreated," a construction company source said. "There is no market demand to absorb a raise now."
In the past week, a distributor was also skeptical of the price adjustment.
"Mills are talking about a possible 10% hike, but I doubt that it could be supported at the current conditions," he said.
