Brazilian producers remain negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $545/mt to $555/mt FOB, the same range as last week, a local market source told SteelOrbis.
According to the source, Brazilian wire rod producers ArcelorMittal and Gerdau are having difficulties in maintaining sales to other South American countries due to the reduced demand from most industrial sectors in the region.
In March, the main destinations for Brazilian wire rod were Asia (6,400 mt at $618/mt)), South America (2,000 mt at $598/mt) and Canada (1,300 mt at $811/mt), all FOB conditions, with different quality grades and price deals probably closed in January.
The supply to Canada, produced by ArcelorMittal, refers to a specialty grade product, destined to produce steel cord to feed the pneumatic tire industry.