Brazilian producers are negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $550/mt to $570/mt FOB, against $560 to $570/mt FOB over the last few weeks, a local market source told SteelOrbis.
According to the source, the price deals reflect chiefly the volume exported, with lower prices ascribed to higher volumes. Reduced domestic production, low demand from Latin American countries and high domestic prices continue to fuel Brazilian imports of the product.
In June, exports of the mesh grade wire rod to Latin American countries were priced in average at $544/mt, FOB conditions, with price deals probably closed in April, while 11,000 mt imports of the mesh grade product from Turkey were priced at $497/mt.