Sources tell SteelOrbis that US wire rod buyers stocked up months ago when both domestic and import prices started trending upward, and now that there is “ample supply” in the market, interest in booking wire rod imports is quiet, even with offers at attractive levels compared with US domestic spot prices.
Offers for imported wire rod in the US domestic market from Brazil are still ranging between $35.00-$36.00 cwt. ($700-$720/nt or $772-$794/mt) DDP loaded truck in US Gulf ports, while offers from Germany are coming in just over at $36.50 cwt. ($730/nt or $805/mt) DDP loaded truck in US Gulf ports.
Greece is also continuing to stake a claim in the US import market, with nearly 10,000 mt in US wire rod import permits recorded so far this month (as of July 17). Source say offers for imported wire rod in the US domestic market from Greece are trending at $36.00-$37.00 cwt. ($720-$740/nt or $794-$816/mt) DDP loaded truck in US Gulf ports.