Brazilian producers are negotiating wire rod of the mesh grade for export at $630/mt, FOB conditions, against $620/mt FOB last week, a local exporter told SteelOrbis.
According to the source, prices remain higher than those seen in the international markets, as exports are being directed to Latin American countries, favored by competitive logistics. A second source mentioned reports of far lower prices being negotiated for wire rod exports to the US, now that Brazil has been temporarily exempted from the US Section 232 tariffs.
In February, Gerdau exported wire rod at $579/mt, while ArcelorMittal exported at $618/mt, both FOB conditions. Such prices, unveiled by the country’s customs authorities, include different wire rod grades and were probably negotiated in December 2017.