Brazilian producers are negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $570/mt to $580/mt FOB, against $560/mt to $570/mt FOB last week, in the second consecutive weekly increase, a local market source told SteelOrbis.
The increase reflects the shortage of material available for export, due to reduced local production of long products, coupled with increased production costs, chiefly those associated with power rates and scrap prices.
In April, ArcelorMittal exported 22,400 mt of wire rod at $727/mt, while Gerdau exported 5,300 mt at $564/mt, both FOB conditions, with different quality grades and price deals probably closed in February.