Brazilian exports of wire rod declined in July by 12.6 percent from the previous month to 32,200 mt, but at an average FOB price increased by 2.7 percent to $566/mt, said the country’s ministry of industry, foreign trade and services, MDIC.
The main destinations were the US (15,200 mt) and South America (14,100 mt), while 1,600 mt were shipped to Canada and 1,200 mt to Asian countries.
ArcelorMittal exported 27,400 mt at $576/mt, Gerdau exported 4,000 mt at $502/mt and the Votorantim group exported 700 mt at $548/mt, all FOB conditions, with price deals probably closed in June.
The most recent export deals for wire rod of the mesh grade were reportedly closed in a FOB price range of $600/mt to $608/mt, while for the drawing grade the indication is $627/mt FOB, both references stable over the last two weeks.