Confidence in the Brazilian construction market supported domestic rebar prices, dampening any discounts expected during the seasonal slowdown in the fourth quarter.
Weekly S&P estimates for 10mm rebar remained stable at $ 529.14 /t ex-works. Construction companies and factories have agreed, and some companies have launched new projects. A spokesman for one of the construction companies says the sector was pessimistic and therefore did not start new projects.
"The level of confidence among companies has increased," the source added, "Although sales of housing units have not increased significantly, we are seeing more and more new projects."
Growing Confidence in Brazilian Construction Sector Supports Rebar Prices
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