Wire rod of the mesh grade remain traded for export from Brazil at $650/mt, FOB conditions, the same level as last week, when a $50/mt increase took place.
For the drawing grade product, the reference is also stable, $680/mt.
According to a local exporter, last week’s increase has compensated for higher production costs, chiefly scrap and energy prices, setting the price in line with international markets.
With price deals probably closed in May, ArcelorMittal exported in July its wire rod at $576/mt, Gerdau at $502/mt and the Votorantim group at $548/mt, all FOB conditions.
The US and South American countries are usually the main destinations of the Brazilian wire rod.