Brazilian producers are negotiating wire rod of the mesh grade for export at $610/mt, FOB conditions, the same price as last week, a local exporter told SteelOrbis.
According to the source, a scenario of uncertainties derived from the imposition of quotas on Brazilian steel exports to the US is giving rise to variations of FOB prices for Brazilian wire rod related to destination, in some cases are currently exceeding 10 percent above the basic reference price.
In April, the main destinations of the Brazilian wire rod were the US (19,000 mt), South America (10,900 mt), Asia (900 mt) and Central America (700 mt), while the main exporters were ArcelorMittal (21,000 mt) and Gerdau (9,700 mt).