Brazilian producers are now negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $560/mt to $570/mt FOB, against $560/mt to $580/mt FOB last week, a local market source told SteelOrbis.
According to the source, prices are set to reduce further over the next weeks, in line with declining international prices for long products.
As the Brazilian domestic demand for long products remains lackluster, due chiefly to the poor performance of the housing sector, exports remain as an alternative for local producers.
In August, Brazil exported 15,000 mt of wire rod, while importing 5,100 mt of the product.