A market source close to SteelOrbis in Brazil said that current export deals for wire rod have not been affected since an 8 percent price increase in early July.
“Sales to Latin American and to EU countries, our priority now, remain closed by similar volumes as before the price increase,” the source said, adding that plans to hold off on further price increases until October are still in place.
On average, wire rod mesh remains exported from Brazil at $524/mt and the drawing grade at $540/mt, both FOB conditions.
For exports during July, with price deals probably closed in May, prices were $423/mt for the mesh grade and at $452/mt for the drawing grade, also both FOB conditions.
In the Brazilian domestic market, wire rod mesh is sold at the equivalent to $695/mt and the drawing grade at $778/mt, both FOB conditions, no taxes included.