Wire rod exports from Brazil have reached 16,000 mt in August against 17,700 mt in July, according to customs.
August exports were destined to the US (12,200 mt at $803/mt), to the Dominican Republic (2,300 mt at $605/mt), and to South American countries (1,500 mt at $687/mt).
The exporters were ArcelorMittal (15,500 mt at 766/mt), Simec (300 mt at $526/mt), and Gerdau (200 mt at $965/mt).
Meanwhile, Brazil imported 27,900 mt of wire rod in August against 8,300 mt in July.
The origins of the imports were China (20,800 mt at $552/mt), Egypt (5,800 mt at $600/mt), Germany (900 mt at $992/mt), and Japan (400 mt at $1,107/mt), also FOB conditions.
According to analysts, the surge in wire rod imports in August reflect importers clearing customs of material previously stockpiled in Brazilian ports. This is to avoid the higher import taxes that will be enforced during the last quarter of the year under the regime of quotas adopted for the import some steel products, including wire rod.