Brazilian wire rod of the mesh grade is now being traded for export at $650/mt, FOB conditions, a local exporter told SteelOrbis.
Such price compares with a range of $600/mt to $608/mt last week; this week’s increase in price reflects a combination of increased demand, chiefly from South American countries, along with higher production costs linked to scrap and energy prices.
For the drawing grade product, the reference FOB price is currently estimated at $680/mt.
With price deals probably closed in May, ArcelorMittal exported wire rod in July at $576/mt, Gerdau exported at $502/mt and the Votorantim group exported at $548/mt, all FOB conditions.