Brazilian longs producers are continuing to export their wire rod of the mesh grade at $524/mt, FOB conditions, the same price since an 8 percent increase in mid-July.
One of the exporters commented to SteelOrbis that the price is justified only as a “last resort” sale, as in the domestic market the product is sold at the equivalent to $685/mt, FOB conditions.
In July, Brazil exported 42,400 mt of wire rod, 16 percent less than in June, at an average FOB price increased by 7.1 percent to $434/mt, pointing to the mesh grade exported at $423/mt and the drawing grade exported at $452/mt, all FOB conditions at price deals probably closed in May.
The main exporters were Gerdau (23,600 mt) and ArcelorMittal (18,700 mt), while the main destinations were the EU (13,000 mt), South America (12,500 mt), the Caribbean (7,400 mt) and the US (6,500 mt).