In August, exports and imports of wire rod from Brazil declined amid higher U.S. tariffs

According to the Secretariat for Foreign Trade of the Ministry of Development, Industry and Foreign Trade of ICEX, Brazil exported 3,500 metric tons of wire rod in August compared to 34,300 tons in July. According to SECEX, the sharp decline is due to the lack of supplies to the United States due to high import duties in that country, as well as a reduction in shipments to South America. In August, shipments were sent to South American countries — 2,700 tons at $675 per ton, compared with 14,200 tons at $710 per ton in July — and to Canada, where 800 tons were sent at $834 per ton. All deliveries were carried out on FOB terms. ArcelorMittal exported 3,300 tons of wire rod, while Gerdau shipped 200 tons. At the same time, the import of wire rod to Brazil in August amounted to 8,300 tons against 28,300 tons a month earlier. The decrease is explained by the fact that the volumes not exported were reoriented to the domestic market, which reduced the demand for imported materials. Imports in August came from Egypt — 8,100 tons at $612 per ton against 26,200 tons at $611 per ton in July — and Germany, from where 300 tons were imported at $998 per ton. Deliveries were also carried out on FOB terms.