The push for slightly higher offer prices in the US import wire rod market has fallen flat as predicted, with traders reporting quiet inquiry activity and no changes in prices. 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 some sources see hope on the horizon that import offers could rise.
The Jan. 1-effective US domestic wire rod price increase has absorbed into the market faster than predicted, and while US wire rod spot prices have not risen by the full increase amount—$2.25 cwt. ($45/nt or $50/mt)—the uptrend has generated confidence that acceptance of higher import offers might be possible in the near future.