Brazilian producers remain negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $590/mt to $600/mt FOB, the same range as last week, local market sources told SteelOrbis.
The source mentioned that fresh deals are currently being closed mostly at prices near the upper side of the range, indicating, in his view, that prices could increase in the short term.
In January, ArcelorMittal exported wire rod from Brazil at $689/mt and Gerdau at $591/mt, both FOB conditions with price deals probably closed in November 2018.