Exports of wire rod increase in Brazil

Monday, 15 June 2015 01:31:33 (GMT+3)   |   Sao Paulo
       

Wire rod exports from Brazil reached 18,600 mt in May from 13,500 mt in April, maintaining a positive trend since February, according to the ministry of development industry and foreign trade, MDIC.

The average FOB price was stable at $606/mt, almost entirely of the drawing grade product, in a price range of $589/mt to $648/mt. The main destinations were the US (15,500 mt at $589/mt) and South American countries ($648/mt).

According to a major trader, the Brazilian exports of wire rod are made among producers Gerdau and ArcelorMittal and their associated companies abroad, so prices are not necessarily representative of market conditions.

A major producer told SteelOrbis that he is selling the drawing grade product in the domestic market at BRL3,511/mt ($1,135/mt) and the mesh grade product at BRL3,356/mt ($1,085/mt), CFR, full taxes conditions, same price in BRL since a 12 percent increase from April 1.

Such high domestic prices maintain a small flow of wire rod imports by distributors, reaching 4,700 mt in May and having as origins the EU (1,900 mt at $674/mt), Asia (1,400 mt at $497/mt) and South American countries (1,400 mt at $564/mt), all FOB conditions.

1 US$ = BRL 3.12 (June 12)


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