Lower offers heard in US import wire rod market

Friday, 26 July 2019 20:01:32 (GMT+3)   |   San Diego

Although demand remains muted within the US import wire rod market, sources have reported lower offers available from Malaysia. Offers are now being heard in the range of $30.00-$31.00 cwt. ($661-$683/mt or $600-$620/nt) DDP loaded truck in US Gulf ports, reflecting a $1.00 cwt. ($22/mt or $20/nt) decline from offers reported a week ago.

Sources say the decline in Malaysian offers represents an eagerness to book orders, although perspectives are mixed as to whether offers have hit bottom. Elsewhere, import wire rod offers from Germany are stable this week at $31.00-$32.00 cwt. ($683-$705/mt or $620-$640/nt) DDP loaded truck in US Gulf ports, although sources say interest in German offers is not robust at the moment.

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