Brazil exported 53,000 mt of wire rod in January, 43 percent more than in December 2017 and the highest monthly volume in recent years, said the country’s ministry of industry, foreign trade and services, MDIC.
The US was the main destination (22,700 mt), followed by Latin America (17,700 mt), the Caribbean (7,700 mt) and the EU (3,500 mt), while smaller volumes were shipped to Canada and Asia.
The average export price of $600/mt points to the mesh grade exported at $550/mt, while the drawing grade was exported at $635/mt, all FOB conditions. The main exporters of January were ArcelorMittal (37,400 mt at $616/mt) and Gerdau (15,200 mt at $559/mt), both FOB conditions, with price deals probably closed in November.
The most recent deals to export wire rod of the mesh grade from Brazil remains closed in average at $600/mt, FOB conditions, a local exporter told SteelOrbis.