Brazil exported 36,400 mt of wire rod in May, 123 percent more than in April, according to the country’s ministry of industry, foreign trade and services, MDIC.
The average FOB export price was 3.9 percent lower at $541/mt, pointing to the mesh grade exported at $490/mt while the drawing grade was exported at $568/mt, both FOB conditions.
ArcelorMittal exported 22,900 mt and Gerdau exported 13,400 mt, while the main destinations were the US (14,300 mt), South America (13,200 mt), the EU (4,800 mt), Asia (2,000 mt) and Canada (900 mt).
According to a local exporter, the most recent wire rod export deals are being closed at $634/mt for the mesh grade and $653/mt for the drawing grade, both FOB conditions.