Brazil exported 30,100 mt of wire rod in May, 81 percent more than in April, according to the country’s ministry of development, industry and foreign trade, MDIC.
The increase reflects chiefly 15,000 mt exported to the US, versus no exports in April, while exports to Latin American countries increased by 26 percent to 14,600 mt.
The average export price increased by 5.7 percent to $416/mt, pointing to the mesh grade exported at $384/mt, while the drawing grade product was exported at $435/mt, all FOB conditions at price deals probably closed in March.
Exports by ArcelorMittal increased fivefold to 17,200 mt at $443/mt FOB, while exports by Gerdau increased by 3.9 percent to 12,807 mt at $381/mt FOB.
A major exporter told SteelOrbis that his last export deal for the mesh grade product was closed at $485/mt FOB, while exports of the drawing grade product are priced at $500/mt FOB, following an 8 percent increase established for June.