Brazilian producers are reportedly negotiating wire rod of the mesh grade for export to Latin American countries in the FOB price range of $550/mt to $560/mt, reflecting no change in the past week, local market sources told SteelOrbis.
The market reflects reduced demand from the industrial sectors in South American countries, while Brazilian producers are trying to increase sales to the US and to Canada.
In March, ArcelorMittal exported 8,800mt of wire rod at $647/mt, while Gerdau exported 800mt at $566/mt, both FOB conditions, different quality grades and price deals probably closed in January.
The destinations of March were Asia (6,400mt), South America (2,000mt at $598/mt) and Canada (1,300mt).