Brazilian producers remain negotiating wire rod exports at prices levels of $608/mt for mesh quality and $627/mt for drawing quality, both FOB conditions, a local exporter told SteelOrbis.
The source mentioned that such prices, established after a 4 percent reduction earlier this month, are showing positive results in increasing the volume exported.
“Despite some positive indications in the numbers of the Brazilian economy, we remain dependent on exports to maintain a minimum volume of sales that could justify operations,” the source said.
In June, ArcelorMittal’s Brazilian operations exported 24,400 mt of wire rod in average at $567/mt, while Gerdau exported 12,000 mt of the product at an average of $518/mt, FOB conditions, with price deals probably closed in April.