Exports of wire rod from Brazil reached 16,400 mt in April, 45 percent less than in March and the lowest monthly volume since March 2016, according to the country’s ministry of industry, foreign trade and services, MDIC.
The average FOB price in April increased with the drawing grade product exported at an average of $574/mt (up from $525/mt in March), while the mesh grade was exported at an average of $524/mt (up from $457/mt in March), both FOB conditions with price deals probably closed in February.
The volume was almost entirely exported by ArcelorMittal (15,400 mt at an average of $568/mt), while Gerdau exported 1,000 mt at an average of $481/mt, both FOB conditions.
The US was the main destination, with 11,700 mt at $563/mt FOB, while 2,200 mt at $523/mt FOB was shipped to Asian countries and 1,400 mt at $514/mt FOB went to South American countries.
The most recent export deals remain closed at $605/mt for the drawing grade and $587/mt for the mesh grade, both FOB conditions, according to local exporters.