Brazilian producers are negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $590/mt to $600/mt FOB, against $580/mt to $590/mt FOB last week, local market sources told SteelOrbis.
According to the source, the move reflects price increases of the product in China and Turkey, coupled with increased local production costs associated with scrap prices and energy tariffs.
In January, Brazil exported 58,100 mt of wire rod, of which 32,300 mt by ArcelorMittal at $689/mt, and 25,800 mt by Gerdau at $591/mt, both FOB conditions and price deals probably closed in November 2018.