Brazilian producers are reportedly negotiating wire rod of the mesh grade for export in a price range of $630/mt to $650/mt FOB, against a range of $625/mt to $630/mt FOB over the last two weeks, a local market source told SteelOrbis.
The source added that a spot sale to a South American country was closed at $690/mt, but it is considered as an outlier deal pushed by high domestic prices and reduced availability for material for export.
In August, Brazil exported 15,100 mt of wire rod, one of the smaller monthly volumes of the last years, with average FOB export prices estimated at $678/mt for the drawing grade and $578/mt for the mesh grade, price deals probably closed in June and having South America as the main destination.