SteelOrbis sources have confirmed that Brazilian producers are still negotiating wire rod export prices to Latin American clients at a reference price of $520/mt, FOB conditions for the mesh grade of the product. This price point is consistent with prices heard seven days ago.
Last week, fresh deals were still being transacted, but it is not clear if more deals will be closed this week, as businesses in countries like Peru and Argentina were halted, although their ports remained open.
Brazilian producers are trying to the increase export volumes, but buyers are reluctant to close fresh deals due to fears surrounding the COVID-19 outbreak. Negotiations have included lower prices in exchange for higher volumes.
In February, Brazil exported 24,100mt of wire rod, of which 15,000mt destined to Latin American countries.