According to traders, Turkish mills are again pushing for higher offer prices to the
US, but even though the
US domestic
wire rod market is experiencing a gradual uptrend, buyers in the
US are not inclined to pay higher prices for imports. As such, Turkish offers of imported product in the
US domestic market are still ranging from $22.00-$23.00 cwt. ($440-$460/nt or $485-$507/mt) DDP loaded truck in
US Gulf ports, although sources say that if they booked at the higher Turkish mill offers, that range would be at least $1.00 cwt. ($20/nt or $22/mt) higher.
As for import arrivals, January levels could reach December levels, but sources are confident the final January number “won’t be anywhere close to the six-digit highs in early fall last year.” The December import permit total was 86,363 mt, whereas the January import permit total (as of Jan. 17) is 51,923 mt.