Brazilian producers remain negotiating wire rod of the mesh grade for export at $650/mt, FOB conditions, the same price since a $50/mt increase three weeks ago. The equivalent reference for the drawing grade remains at $680/mt.
One source mentioned that he expects increased prices over the next months, reflecting increased demand chiefly from the US.
With price deals probably closed in May, ArcelorMittal exported in July its wire rod at $576/mt, Gerdau at $502/mt and the Votorantim group at $548/mt, all FOB conditions.
A total 32,200 mt of wire rod was exported from Brazil in July, having the US and South American countries as main destinations.