Although US import wire rod buyers are still keeping an eye on offers from overseas, many are still relying on domestic supply, especially now that it appears the US mill-announced price increase last week is “going nowhere.” For now, the margin between import wire rod offers from Germany and US domestic spot prices remains a scant $0.50 cwt. ($11/mt or $10/nt), leaving wire rod buyers in the US with little incentive to take the risk on imports.
As for import offers, prices from Germany are stable again week-on-week at $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP loaded truck in US Gulf ports.