Brazil exported 3,500 metric tons (mt) of wire rod in August, down from 34,300 mt in July, according to SECEX, the foreign trade secretariat of the Ministry of Development, Industry and Foreign Trade.
The steep drop was driven by the absence of shipments to the US -the result of the country's high import tariffs- as well as lower deliveries to South America, SECEX said.
August shipments were directed to South American countries (2,700 mt at $675/mt, compared with 14,200 mt at $710/mt in July) and Canada (800 mt at $834/mt), on an FOB basis.
ArcelorMittal exported 3,300 mt, while Gerdau shipped 200 mt.
Meanwhile, Brazil imported 8,300 mt of wire rod in August, down from 28,300 mt in July. The decline reflected the redirection of volumes that were not exported to the domestic market, which reduced demand for imported material.
August imports came from Egypt (8,100 mt at $612/mt, compared with 26,200 mt at $611/mt in July) and Germany (300 mt at $998/mt), also on an FOB basis.
