Brazilian producers remain negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $580/mt to $590/mt FOB, the same range over the last three weeks, local market sources told SteelOrbis.
In January, Brazil exported 58,100 mt of wire rod, in average at $646/mt, FOB conditions, with price deals probably closed in November. The main destinations were Latin American countries (22,800 mt at $542/mt), the US (22,200 mt at $759/mt), Italy (8,400 mt at $640/mt) and Asian countries (4,600 mt at $623/mt), all FOB conditions. The exporters were ArcelorMittal (32,300 mt at $689/mt) and Gerdau (25,800 mt at $591/mt), all FOB conditions.
Brazilian producers remain trying to increase exports to compensate for the reduced domestic demand, in a strategy that includes the reduction of production as an alternative to sustain the supply/demand balance.