A source linked to a Brazilian exporter confirmed to SteelOrbis that wire rod prices will increase as of December 1, adding that his next sales will be closed under the new prices.
With the 12 percent increase, established for both domestic and export sales, the mesh grade product will be exported at $524/mt, while the drawing grade product will be exported at $605/mt, both FOB conditions.
In October, for price deals probably closed in August, the mesh grade was exported in average at $454/mt, while the drawing grade was exported at $492/mt, both FOB conditions.
The main exporters were Gerdau (9,700 mt) and ArcelorMittal (7,100 mt).