Brazilian producers remain negotiating exports of wire rod of the mesh grade quality to the US in a range of $580/mt to $595/mt CFR US East Coast, a local market source told SteelOrbis.
However, out of the total Brazilian wire rod exports to the US, most are related to a high-grade product destined to produce steel cord to serve the pneumatic tire industry. Prices for such products usually have a premium around $200/mt in relation to the basic mesh grade quality product.
For exports to countries in South America, the range for mesh grade wire rod remains at $600/mt to $615/mt, CFR conditions. Higher prices are attributed to higher logistics costs, derived from road transportation.
In September, ArcelorMittal exported 15,400 mt of wire rod at $589/mt, while Gerdau exported 2,300 mt of the product at $474/mt, both FOB conditions, different quality grades and price deals probably closed in July.