Brazilian producers remain negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $570/mt to $580/mt FOB, the same range over the last two weeks, a local market source told SteelOrbis.
A scenario of local reduced production and increased demand from Latin American countries remains fueling expectations of increased prices, while the Brazilian domestic demand for long products remains lackluster, due chiefly to the poor performance of the housing sector.