Interest in booking US import wire rod orders remains stable despite indications that import offers are moving on an uptrend. Sources tell SteelOrbis that a slight increase in offers from certain regions this week has not led to an uptick in inquiries, even though some traders believe “it’s a good idea to book now because prices are probably going to rise more.”
Offers of imported wire rod in the US domestic market from Germany are still around $30.00 cwt. ($600/nt or $661/mt) DDP loaded truck in US Gulf ports, while imported wire rod in the US domestic market from Egypt has increased by $0.75 cwt. ($15/nt or $17/mt) to $30.75 cwt. ($615/nt or $678/mt) DDP loaded truck in US Gulf ports. Offers of imported wire rod in the US domestic market from India, meanwhile, are also stable at $29.00 cwt. ($580/nt or $639/mt) DDP loaded truck in US Gulf ports, although sources say “those prices won’t last.”