Although no fresh deals for the export of wire rod from Brazil have been announced in the last week, sources tell SteelOrbis that negotiations with Latin American clients remain based on a reference price of $520/mt, FOB conditions for the mesh grade product.
However, lower prices are not ruled out as exporters try to increase the volumes exported, in a lower price for higher volume exchange, while importers remain reluctant to increase volumes due to fears about the developments of the Covid-19 outbreak.
Preliminary figures from customs point to a reduced volume of wire rod exported from Brazil in March compared with the 24,100 mt exported in February.