Price increases again for Brazilian wire rod exports to the US

Monday, 13 January 2020 23:00:52 (GMT+3)   |   Sao Paulo

Brazilian producers are negotiating exports of wire rod of the mesh grade quality to the US East coast, in a reference price of $625/mt CFR, against $620/mt CFR last week, a local market source told SteelOrbis.

For exports to countries in South America, the reference remains $630/mt, CFR conditions for the mesh grade product, now stable over the last four weeks.

The source mentioned that additional price increases are not ruled out as production remains reduced while domestic demand is increasing in a possible reflection of a growing recovery of the local economy. 

In December, the Brazilian wire rod exports were destined to South American countries (20,700 mt at $483/mt), the US (9,800 mt at $657/mt), Italy (2,900 mt at $543/mt) and Thailand (1,000 mt at $672/mt), while smaller volumes were shipped to Canada and Singapore, all FOB conditions, with different quality grades and price deals probably closed in October.

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