Brazilian producers remain negotiating wire rod of the mesh grade for export to South American countries in a price range of $630/mt to $650/mt FOB, the same range of last week, a local market source told SteelOrbis.
According to the source, sales to other destinations reportedly remain in the reference range of $600/mt to $610/mt FOB. He added that he is not aware of wire rod sales recently closed for exports to destinations other than South America.
Exports compete with the Brazilian domestic market, where wire rod prices of the mesh grade currently exceed $1,300/mt, full taxes except IPI conditions, when supplied by distributors in small volumes.
In September, ArcelorMittal exported from Brazil 4,000 mt of wire rod at $682/mt, while Gerdau exported 2,500 mt at $706/mt, both FOB conditions, with price deals probably closed in July.