Brazilian steel producers remain negotiating wire rod for export in a price range of $460/mt to $470/mt, stable over the last weeks, FOB conditions for the mesh grade product.
Although a scenario of low demand and low production remains with EAF plants being closed. An incipient recovery of the civil construction sector is seen by the steel industry as an alternative for fresh deals, domestic and export, while production still remains at a 41 percent rate in relation to the country’s combined nameplate capacities of steel plants.
In April, Brazil exported 13,800 mt of wire rod, against 25,400 mt in March.
South American countries were the main destination (8,600 mt at $526/mt), followed by the US (3,600 mt at $593/mt) and Jamaica (1,200 mt at $470/mt), while small volumes were shipped to Thailand and Taiwan, all FOB conditions, different quality grades and price deals probably closed in February. The exporters were Gerdau (8,600 mt at $519/mt) and ArcelorMittal (5,200 mt at $577/mt), FOB conditions.