US import wire rod downtrend continues

Friday, 16 August 2019 20:44:05 (GMT+3)   |   San Diego
       

Lower offer prices have been reported in the US import wire rod market, mirroring a similar downtrend in the US domestic wire rod market. This week, offers from Malaysia have dipped below the threshold of $30.00 cwt. ($661/mt or $600/nt) DDP loaded truck in US Gulf ports, while offers from Germany, which are reportedly not seeing much traction, are stable in the range of $30.50-$31.50 cwt. ($672-$694/mt or $610-$630/nt) DDP loaded truck in US Gulf ports.

Sources tell SteelOrbis there is also still inventory available at US ports, although position tags are reported as slightly higher than offers for future delivery. August arrivals of US import wire rod appear to be on track to match or surpass July levels. According to US import data, wire rod import permits totaled 74,370 mt in July, while August permits (as of Aug. 13), have already totaled 39,662 mt.


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