Price range unchanged for Brazilian wire rod exports

Monday, 07 October 2019 19:33:53 (GMT+3)   |   Sao Paulo

Brazilian producers are negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $560/mt to $570/mt FOB, the same range as last week, a local market source told SteelOrbis.

According to the source, prices are expected to decline over the next few weeks, in line with declining international prices for long products. As Brazilian domestic demand for long products remains lackluster, due chiefly to the poor performance of the housing sector, exports remain as an alternative for the local producers.

In September, Brazil exported 17,800 mt of wire rod and imported 1,300 mt of the product, comparable with 15,000 mt exported and 5,100 mt imported in August.

The exporters were ArcelorMittal (15,400 mt) and Gerdau (2,300 mt), while the destinations were South America (10,700 mt at $453/mt), the US (5,000 mt at $793/mt), Asia (1,500 mt at $603/mt) and Canada (600 mt at $467/mt), all FOB conditions, with different quality grades and price deals probably closed in July.

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