A source from a Brazilian exporter told SteelOrbis that he has received a quote request to export mesh grade wire rod at $630/mt, FOB conditions. Last week, the average export price was $620/mt FOB.
The source mentioned that the deal could not be closed, as his production is dedicated to serve the domestic market, where prices are more rewarding.
“I would need a FOB price of at least $750/mt to match the domestic price,” he said, adding that the situation could change in the medium term with increased domestic production.
A second domestic source mentioned that the base price for the negotiation of the mesh grade remains at $620/mt for the fourth week, but few fresh deals are actually being closed.