Brazilian producers are negotiating wire rod of the mesh grade for export to Latin American countries in a price range $560 to $570/mt FOB, against $545/mt to $555/mt FOB last week, a local market source told SteelOrbis.
The shortage of supply, reflecting reduced domestic production, coupled with reduced demand from Latin American consumers is giving rise to price alterations, while high domestic prices continue to fuel imports of the product, the source added.
In May, Brazil exported 21,000 mt and imported 9,300 mt of wire rod.