Demand for US import wire rod remains muted

Friday, 19 July 2019 21:35:45 (GMT+3)   |   San Diego
       

With the margin between US import and US domestic wire rod prices remaining around $1.00 cwt. ($22/mt or $20/nt), sources say there is little incentive for US buyers to turn to the import market, when they can get material much faster from domestic producers. As such, demand for US import wire rod continues to trend weak.

However, traders are not reportedly trying to cut deals to book orders, due to the expectation US domestic wire rod prices will “eventually” start to rise. Until then, US import wire rod offers are expected to trend stable in the near term. Import wire rod offers to the US from Germany and Malaysia are still being heard in the range of $31.00-$32.00 cwt. ($683-$705/mt or $620-$640/nt) DDP loaded truck in US Gulf ports.


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