Brazilian producers remain trading wire rod for export at an average price of $630/mt, FOB conditions, the same price in one week.
According to a local exporter, the current price level remains higher than international prices, still reflecting the margins squeezed by high production costs derived from record-high local energy rates.
In September, ArcelorMittal exported wire rod at $531/mt and Gerdau exported at $545/mt, FOB conditions, with price deals probably closed in July.
In the Brazilian domestic market, wire rod of the mesh grade is currently traded at the equivalent to $900/mt, ex-works, full taxes except IPI, a $100/mt decline in one week.