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Brazil’s wire rod market displayed a notable shift in trade dynamics in November, marked by a solid rise in export volumes and a concurrent decline in imports. According to preliminary industry data, Brazil exported approximately 15,400 metric tons of wire rod during the month, up from 10,100 metric tons in October. This growth reflects strengthening demand from key international buyers, particularly in South America, Guatemala, the United States, and Canada. Export prices varied across destinations, with average levels ranging from the mid-$500s to over $900 per ton FOB, depending on grade and destination.
On the import front, Brazil recorded a significant reduction, bringing in around 6,500 metric tons of wire rod in November. This marks a sharp drop compared to previous months, indicating cooling domestic reliance on foreign material. China, Egypt, and Germany remained the primary import sources, although their supply contribution weakened.
The contrasting trend rising exports and declining imports highlights an improving balance for Brazil’s long products sector. Stronger outbound demand suggests enhanced competitiveness for Brazilian mills, while lower import dependency points to a stabilizing domestic market. If sustained, these patterns may provide a firmer production outlook for the country’s steelmakers heading into the new year
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