The few sources available for comment on the US domestic and import wire rod markets this week tell SteelOrbis that activity is still muted due to the holiday season, and activity is expected to resume next week. At that point, sources are increasingly optimistic that US domestic wire rod mills will “aggressively” push through the $1.25 cwt. ($25/nt or $28/mt) price increase announced in late November, which up until now has been mostly ignored. The last-heard spot prices for US domestic wire rod were trending at $28.50-$29.50 cwt. ($628-$650/mt or $570-$590/nt) ex-mill.
As for the import market, activity is expected to resume at previously tepid levels, although one source pointed out that an aggressive push for higher US domestic wire rod prices could result in a slightly increased demand for lower-priced imports. The last-heard offers for US import wire rod from Germany ranged from $28.50-$29.00 cwt. ($628-$639/mt or $570-$580/nt) DDP loaded truck in US Gulf ports.