Brazilian producers are negotiating wire rod of the mesh grade for export in a price range of $625/mt to $630/mt FOB, the same reference price for two weeks, a local market source told SteelOrbis.
Today, the focus remains with the domestic market and its higher prices, with few fresh export deals being closed, although producers are reconsidering strategies in face of the quota deal with the US and potential exclusions now allowed under Section 232.
In August, Brazil exported 15,100 mt of wire rod, one of the smaller monthly volumes of the last years. The average FOB price of $622/mt refers to the mesh grade exported at $578/mt, while the drawing grade was exported at $678/mt.
The main destinations were South America (13,500 mt) and Asia (1,300 mt), while 300 mt was exported to Canada. The exporters were ArcelorMittal (13,300 mt) and Gerdau (1,800 mt).