Brazilian producers are reportedly negotiating wire rod of the mesh grade for export in a price range of $640/mt to $660/mt FOB, against a range of $630/mt to $650/mt FOB last week, a local market source told SteelOrbis.
The source added that such price range refers to sales to South American countries, the destination of most of the current wire rod exports.
In August, Brazil exported 15,100 mt of wire rod, one of the lowest monthly volumes of the last few years, with average FOB export prices estimated at $678/mt for the drawing grade and $578/mt for the mesh grade, with price deals probably closed in June and also having South America as the main destination.