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 $580/mt FOB, against $560/mt to $590/mt FOB last week, local market sources told SteelOrbis.
The decline reflects reduced demand from the industrial sector in South American countries, the source added.
In February, Brazil exported 33,500 mt of wire rod, in average at $682/mt, FOB conditions, with price deals probably closed in December. The price of the mesh grade product exported in February is estimated at $569/mt, under the same conditions.