Sources tell SteelOrbis that interest in US import wire rod remains low this week, with little to no change in prices from various sources. In addition to a seasonal winter slowdown in demand, import offers are still too close to US domestic wire rod prices to be attractive. However, some sources in the US domestic wire rod market say there is a chance domestic prices will firm if US scrap prices rise next month as predicted, and if US wire rod mills become less agreeable to deals, it could reignite interest in imports.
For now, offers of imported wire rod in the US domestic market from Germany are still around $30.00 cwt. ($600/nt or $661/mt) DDP loaded truck in US Gulf ports, while offers from Egypt have increased about $0.50 cwt. ($10/nt or $11/mt) to meet German price levels. Elsewhere, sources report offers of imported wire rod in the US domestic market from India around $29.00 cwt. ($580/nt or $639/mt) DDP loaded truck in US Gulf ports, which is reportedly garnering “spotty inquiries” according to sources.