Brazil exported 29,600 mt of
wire rod in March, which reflects an 11 percent decline from levels recorded in February. The average March FOB price increased by 5.3 percent, month-over-month, to $500/mt, according to the local ministry of industry, foreign trade and services, MDIC.
Mesh grade product was exported at an average price of $457/mt, while drawing grade product was exported at an average price of $525/mt, both FOB conditions, with price deals probably closed in January.
Gerdau exported 22,200 mt at $473/mt FOB, while ArcelorMittal exported 7,400 mt at $580/mt FOB.
The main destinations for
wire rod exports were the EU (11,200mt),
South America (9,000 mt), the US (5,700 mt) and the Caribbean (2,300 mt), while smaller tonnages were shipped to Asia and Canada.
Fresh
wire rod export deals in
Brazil are reportedly being closed at $587/mt for the mesh grade and $605/mt for the drawing grade, both FOB conditions.