Wire rod export prices unchanged in Brazil

Monday, 15 July 2019 21:16:21 (GMT+3)   |   Sao Paulo

Brazilian producers are negotiating wire rod of the mesh grade for export to Latin American countries in a price range of $560 to $570/mt FOB, stable over the last four weeks, a local market source told SteelOrbis.

A combination of reduced domestic production, low demand from Latin American countries and high domestic prices remain fueling imports of the product, the source added.

In June Brazil exported 11,200 mt of wire rod and imported 11,600 mt, according to local customs data.

Exports were priced in average at $730/mt, FOB conditions, a figure positively impacted by 5,000 mt of a high-grade product exported by ArcelorMittal to the US at $808/mt FOB. If such volume is excluded, the average price would drop to $667/mt FOB.

Conversely, the imports of wire rod, priced in average at $497/mt FOB, reflect chiefly the 11,000 mt imported from Turkey at $496/mt, while the 600 mt imported from Germany were priced at $862/mt FOB.

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