A Brazilian exporter told SteelOrbis that the company is considering a price reduction for the export of wire rod, in order to increase sales volume.
According to the source, a recent devaluation of the BRL against the US dollar, although minor, opens the opportunity of a price reduction to maintain the same profitability achieved under the current prices.
But so far, prices are following the previously stable trend, at $634/mt for the mesh grade product and $653/mt for the drawing grade, both FOB conditions.
With price deals probably closed in March, ArcelorMittal exported wire rod in May at $584/mt, Gerdau at $468/mt and the Votorantim group at $543/mt, all FOB conditions.