A source from a Brazilian exporter told SteelOrbis that the company has maintained the same prices for the export of wire rod since December.
The source mentioned that an average 10 percent increase, previously scheduled for March 1, has not been implemented so far, but will be adopted in the short term, without quoting a date.
The most recent wire rod export deals remain closed in average at $605/mt for the drawing grade product and $587/mt for the mesh grade product, FOB conditions.
Brazil exported 33,200 mt of wire rod in February, 13 percent less than in January, at an average FOB price of $446/mt for mesh grade exports, while the drawing grade product was exported in average at $490/mt FOB.
The US was the top destination, with 19,500 mt at an average price (including both grades) of $484/mt, followed by South America (9,900 mt at $449/mt), the Caribbean (2,000 mt at $434/mt) and Asia (1,500 mt at $518/mt), all FOB conditions.
The main exporter was ArcelorMittal (22,000 mt at $490/mt), followed by Gerdau (10,700 mt at $442/mt) and the Votorantim Group (500 mt at $519/mt), all FOB conditions, with price deals probably closed in December 2016.