Brazilian producers are negotiating exports of wire rod of the mesh grade quality to the US East coast, in a reference price of $620/mt CFR, against $615/mt CFR last week, a local market source told SteelOrbis.
For exports to countries in South America, the reference price is $630/mt, stable over the last three weeks, CFR conditions for the mesh grade product.
In December, Brazil exported 35,000 mt of wire rod, against 13,100 mt in November. Gerdau exported 23,900 mt at $494/mt, while ArcelorMittal exported 11,100 mt at $664/mt, both FOB conditions, different quality grades and price deals probably closed in October.
The main destinations of December were South American countries (20,700 mt at $483/mt), the US (9,800 mt at $657/mt), Italy (2,900 mt at $543/mt) and Thailand (1,000 mt at $672/mt), while smaller volumes were shipped to Canada and Singapore.