Since early July, Brazilian producers have been exporting mesh-grade wire rod at $524/mt and the drawing grade at $540/mt, both FOB conditions, according to a source from a major exporter.
The source confirmed that a portion of the exports is destined to associated companies abroad, adding that most of the shipments are made under an international marketing coordination, but in any case, prices are defined under market conditions.
In August, Gerdau exported wire rod in average at $485/mt and ArcelorMittal at $468/mt, both FOB conditions, with price deals probably closed in June.
In the Brazilian domestic market, wire rod of the mesh grade is sold at the equivalent to $695/mt, ex-works, no taxes included.