With few fresh deals currently closed in the Brazilian export wire rod market, producers are negotiating wire rod of the mesh grade for export at $620/mt, FOB conditions, the same reference for the second consecutive week, a local source told SteelOrbis.
The source added that there is a gap between international prices and the higher price that is being offered by the Brazilian producers in the more profitable domestic market.
In July, Brazil exported 22,600 mt of wire rod, in average at $648/mt, FOB conditions, with price deals probably closed in May, with the mesh grade sold at an estimated $628/mt and the drawing grade at $691/mt, FOB.
The main destinations were Latin America (17,200 mt at $634/mt), Italy (4,400 mt at $665/mt) and Canada (700 mt at $855/mt), while smaller volumes were shipped to Singapore and Thailand. Such FOB prices include different quality grades of wire rod.