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 $550/mt to $570/mt FOB last week, a local market source told SteelOrbis.
According to the source, the price deals still reflect chiefly the volume exported to each client, with lower prices ascribed to higher volumes.
In July, ArcelorMittal exported 36,700 mt of wire rod, in average at $665/mt, while Gerdau exported 9,500 mt at $576/mt, both FOB conditions, with different quality grades and price deals probably closed in May.
The main destinations of the Brazilian wire rod in July were the US (19,500 mt), South America (12,500 mt), Asia (8,400 mt), Italy (3,000 mt), Costa Rica (2,300 mt), and Canada (500 mt).