Brazilian producers remain negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $590/mt to $600/mt FOB, the same range for two weeks, local market sources told SteelOrbis, adding that the forecast is maintained for higher prices in the near-term.
In February, Brazil exported 33,500 mt of wire rod, in average at $682/mt, FOB conditions, with price deals probably closed in December. ArcelorMittal exported 20,100 mt at $765/mt, while Gerdau exported 13,400 mt at $557/mt, both FOB conditions. The main destinations were Latin American countries (16,000 mt at $558/mt), the US (15,000 mt at $821/mt) and Asia (2,500 mt at $638/mt).
The difference in prices can be ascribed to varying grades. For instance, the 15,000 mt exported by ArcelorMittal to the US, at $821/mt FOB, refers to a specialty product, destined to produce steel cord for the pneumatic tire industry.