Wire rod exports by Brazilian producers reached 51,100 mt in August, 23 percent more than in July, according to numbers by the country’s ministry of development, industry and foreign trade, MDIC.
The average FOB price, 8.8 percent higher at $473/mt, points to the mesh grade exported in a range of $420/mt to $449/mt, while the drawing grade product was exported in average at $480/mt, with price deals probably closed in June.
The top exporter was ArcelorMittal (35,900 mt), while Gerdau exported 16,200 mt.
The US was the main destination (22,600 mt), followed by the EU (13,100 mt), South America (15,600 mt), Canada (2,200 mt), the Caribbean (2,000 mt) and Asian countries (1,400 mt).
Since early July, Brazilian producers remain exporting the mesh grade product at $524/mt, while the drawing grade is exported at $540/mt, both FOB conditions, a local exporter told SteelOrbis.