Brazilian producers are negotiating wire rod of the mesh grade for export to South American countries in FOB price range of $580/mt to $590/mt, which reflects a $10/mt drop from levels seen in previous weeks, when offers were trending in the range of $590/mt to $600/mt.
In December, ArcelorMittal exported 25,700mt of wire rod from Brazil, in average at $608/mt, while Gerdau exported 500mt at $704/mt, both FOB conditions, with price deals probably closed in October.
The main destinations were Asia (9,000mt at $603/mt), the US (8,800mt at $641/mt), Latin America (7,600mt at $560/mt) and Canada (800mt at $808/mt).
Such exports cover different quality grades, including the high-grade product, exported by ArcelorMittal to the US and Canada, destined to produce steel cord to serve the pneumatic tire industry.