Lower offers heard in US import wire rod market

Friday, 14 June 2019 22:46:53 (GMT+3)   |   San Diego

Although interest in US import wire rod remains “terribly low,” according to sources, offers have followed the overall price downtrend in steel prices and much lower offers have been heard this week.

A lack of inquiry activity level left offer prices stable in our last report a week ago, but import wire rod offers to the US from Germany and Malaysia are now 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, reflecting a decrease of $2.00 cwt. ($44/mt or $40/nt).

Sources have also heard of certain outlier deals slightly below that range, indicating offer prices have not yet reached bottom.

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