While US import wire rod arrivals seemed to be on a continual decline since a high of 106,027 mt in August, the latest US import data show November arrivals outpacing October and September levels, with import permits totaling 84,539 mt as of Nov. 20. The largest shift has been arrivals from Germany, which totaled 4,749 mt in import permits in October, rising to 26,878 mt of permits so far this month. Additionally, an unexpected 15,405 mt in import permit from Australia, compared to only 511 mt in October and virtually zero tonnage for the rest of 2018, has provided a significant boost to the overall totals.
According to one source, the Australian wire rod does not represent a new regular source of import wire rod in the US, but rather a singular order from a US mill for the purpose of filling in a domestic order they could not meet with their own production. According to that source, the price for the Australian rod was around $36.00 cwt. ($794/mt or $720/nt) DDP loaded truck at the port, which is lower than current offers from other sources due to Australia being exempt from both Section 232 tariffs and quotas.
As for prices from regular import wire rod sources, offers are stable week-on-week. Egyptian wire rod offers to the US are still around $38.00 cwt. ($838/mt or $760/nt) DDP loaded truck in US Gulf ports, while offers for imported wire rod in the US domestic market from Germany are around $37.00 cwt ($816/mt or $740/nt) DDP loaded truck in US Gulf ports.