Globoesporte says Barca have scouted the 21 year-old regularly over the past year.
Indeed, Barca have been aware of Fernandes since he was breaking through in 2017 at Botafogo.
The midielder arrived at Palmeiras last summer from Botafogo for €3.5m and has a contract until 2023.
Fernandes is a Brazil U20 international.
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