Brazil exported 8,700 mt of wire rod to the US in February, against 4,000 mt in January, according to the country’s ministry of development, industry and foreign trade, MDIC.
A market source had previously informed SteelOrbis that the low volume exported in January was a one-off situation, as the availability of the product was reduced at that time.
The exports were almost entirely by ArcelorMittal and consisting of the drawing grade product, priced FOB at $493/mt in average, a price comparable to$500/mt in January. The source mentioned that the most recent negotiations for exports of the drawing grade product to the US were also closed around $500/mt FOB, a price stable in three months.
The total Brazilian exports of wire rod reached 17,600 mt in February, of which 12,100 mt by ArcelorMittal at $485/mt, 5,200 mt by Gerdau at $377/mt and 300 mt by the Votorantim Group at $621/mt, all FOB conditions.
Other destinations of the Brazilian wire rod in February were South America (7,100 mt), the Caribbean (600 mt), Asia (500 mt ), Canada (400 mt) and the EU (200 mt).