Import wire rod offers in the US

Since last week, Chinese wire rod offering prices have decreased by $10 /mt, now ranging from $480 /mt to $490 /mt CFR FO in US Gulf ports. As usual, grade 1008 and 5.5 mm size rods are restricted. Turkish mesh quality wire rod offers have also decreased by $10 /mt, and now range from $520 /mt to $530 /mt CFR FO in US Gulf ports. Offers for drawing quality import wire rods have remained the same since last week, still ranging from $540 /mt to $550 /mt CFR FO in US Gulf ports. Some South American mills are aiming for prices significantly higher than the above, due to the strong wire rod market in Latin America.