A source from a Brazilian exporter told SteelOrbis that the base price for negotiations for the export of wire rod of the mesh grade is now $580/mt FOB conditions, against $524/mt FOB reported last week. For the drawing grade, the reference price is now $600/mt FOB.
Production costs were the main reason for the increase, the source said.
In December, for price deals probably closed in October, ArcelorMittal exported 26,400 mt of wire rod in average at $453/mt, while Gerdau exported 11,000 mt at $422/mt, both FOB conditions.
The main destinations were the US (19,300 mt) and South America (9,200 mt), while smaller tonnages were shipped to Asia (3,800 mt), the EU (3,000 mt) and the Caribbean (2,000 mt).