Brazilian producers are 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 three weeks, a local market source told SteelOrbis.
Reduced domestic production and increased import demand from Latin American countries continues, while domestic demand for long products in Brazil remains lackluster, due chiefly to the poor performance of the housing sector.
In August, Brazil exported 15,000 mt of wire rod, against 46,200 mt in July. ArcelorMittal exported 14,300 mt at $562/mt, while Gerdau exported 700 mt at $590/mt, both FOB conditions, with different quality grades and price deals probably closed in June.
South America was the main destination (6,600 mt at $550/mt), followed by Asia (5,700 mt at $515/mt), the US (1,800 mt at $786/mt), and Trinidad and Tobago (900 mt at $552/mt).