Current wire rod export deals in Brazil are reportedly being closed at $587/mt FOB for the mesh grade and $605/mt FOB for the drawing grade, a major exporter told SteelOrbis.
A price increase of 8 percent, already announced twice and subsequently suspended, is now expected to be effective as of May 1, the source said.
In March, Gerdau exported wire rod in average at $473/mt and ArcelorMittal at $580/mt, both FOB conditions, with price deals probably closed in January.