Although traders tell SteelOrbis that there is no “urgency” from Turkish mills to book wire rod orders, they are reportedly flexible with offer prices. Lower offers on the CFR end this week have already resulted in lower sales prices offers in the US, with the general range now at $18.00-$19.00 cwt. ($360-$380/nt or $397-$419/mt) DDP loaded truck in US Gulf ports, reflecting a decrease of $0.25 cwt. ($5/nt or $5.50/mt) since last week.
As for the domestic wire rod market, sources tell SteelOrbis that the only noticeable change in spot prices since the February 1 $1.50 cwt. ($30/nt or $33/mt) price increase became effective is that mills are unwilling to negotiate prices downward, even for large customers on the lower end of the still-current range of $25.00-$26.00 cwt. ($500-$520/nt or $551-$573/mt) ex-mill. Reports of smaller customers and tonnage orders transacting at slightly higher prices are, as with last week, not widespread enough to shift the range upward.