Brazilian producers are reportedly negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $560/mt to $590/mt FOB, against the range of $590/mt to $600/mt FOB reported last week, local market sources told SteelOrbis.
The decline reflects reduced demand from the industrial sector in South American countries, which has frustrated analyst expectations for higher prices.
In February, Brazil exported 33,500 mt of wire rod, in average at $682/mt, FOB conditions, with price deals probably closed in December.