Even though major Mexican longs producer Deacero was welcomed back to the US import market a couple weeks ago, traders have not heard of too many solid offers from south of the border, probably, as one trader said, because “they’re being very careful with their prices in order to fly under the DOC radar.” While traders wait for new offers, Turkish wire rod producers have taken the opportunity to firm up offer prices—at least until competition from Mexico forces them into flexibility. As such, offers this week are up $1.00 cwt. ($20/nt or $22/mt), into the new range of $25.50-$26.50 cwt. ($510-$530/nt or $562-$584/mt) DDP loaded truck in US Gulf ports.
As for the US domestic wire rod market, sources tell SteelOrbis that offers on the low end of the current $26.50-$27.50 cwt. ($530-$550/nt or $584-$606/mt) ex-mill spot range are starting to vanish, meaning US mills might be gearing up for an informal price push. Of course, any move will be “off the books” and individualized depending on the customer.