After a substantial uptick in US import wire rod offers last week, offer prices this week have trended neutral this week as traders weigh the risks and advantages of ordering so close to a preliminary AD/CVD determination. The preliminary margins against wire rod producers in 10 countries are due early next month, which would put the arrival of current orders too close to comfort for traders concerned about a critical circumstances ruling. As such, inquiry activity is reportedly strong, but actual orders are few and far between.
This week, Turkish offers of imported wire rod in the US domestic market are still ranging from $25.50-$26.50 cwt. ($510-$530/nt or $562-$584/mt) DDP loaded truck in US Gulf ports, reflecting no change to previously reported prices.