Brazilian producers are negotiating wire rod of the mesh grade for export in a price range of $600/mt to $610/mt, FOB conditions, against $620/mt last week, a local exporter told SteelOrbis.
He added that the decline reflects efforts by producers to set prices closer to international prices of the product.
In March Brazil exported 28,900 mt of wire rod, with the mesh grade exported in average at $553/mt, while the drawing grade was exported at $690/mt, both FOB conditions, with price deals probably closed in January 2018.
The mesh grade product is usually shipped by Brazil to Latin America and the Caribbean, while the drawing grade is usually shipped to the US.
The main exporters of March were ArcelorMittal (22,000 mt) and Gerdau (6,700 mt), while Votorantim exported 200 mt.