A local exporter told SteelOrbis that Brazilian producers are currently negotiating wire rod for export at $634/mt for the mesh grade and $653/mt for the drawing grade, both FOB conditions.
The new prices compare with $587/mt FOB and $605/mt FOB, respectively, one week ago. The source said that after an official price increase was announced and canceled twice this year, the latest push for higher prices is expected to recover margins.
In April, with price deals probably closed in February, ArcelorMittal exported wire rod in average at $568/mt, while Gerdau exported at $481/mt, both FOB conditions.