After signs this week that the Section 232 tariffs against US steel imports from the EU might be dropped during ongoing trade negotiations, sources tell SteelOrbis hopes are rising that either the Trump administration will work out tariff-reducing deals with other regions and countries, or Congressional action or WTO rulings will eliminate them entirely. As such, buyers in the US import wire rod market continue to hold off on purchasing activity.
Demand is also slack in the US due to a typical seasonal slowdown, and sources say import offer prices have trended stable since last week. Offers for imported wire rod in the US domestic market from Brazil are still being heard 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 still around $36.50 cwt. ($730/nt or $805/mt) DDP loaded truck in US Gulf ports and offers from Greece are around $36.00-$37.00 cwt. ($720-$740/nt or $794-$816/mt) DDP loaded truck in US Gulf ports.