Although demand for US import wire rod remains tepid, sources tell SteelOrbis that offers for future arrival have trended upward as importers cite higher scrap prices in Europe. US import wire rod offers from Germany are now at $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP loaded truck in US Gulf ports, reversing the $1.00 cwt. ($22/mt or $20/nt) decrease reported last week as fewer deals are available.
Additionally, sources report wire rod positions at the port in “roughly the same range” as future offers, although sources report “little to no” interest in bringing in significant tonnage in the future.