Although interest in US import wire rod is not “especially robust,” sources say, business keeps “chugging along” despite the continuous uncertainty in the market. According to the latest US import permit data, wire rod arrivals in August (as of Aug. 21) are relatively stable compared to July, with the exception of Canada, which has accounted for a roughly 10,000 mt drop in arrivals month-to-month so far. The decline in Canadian wire rod imports is directly attributed to the country’s exclusion from Section 232 tariffs being revoked as of June 1.
As for future US import wire rod arrivals, orders are reportedly “steady” and prices are unchanged while buyers wait for a resolution to ongoing trade talks between the US and the EU, as well as ongoing renegotiations of NAFTA, which has extended far longer than many in the market expected. Once there is clarity regarding imports from top US import wire rod sources including Canada, Germany and Greece, sources say buyers will “finally be able to plan ahead again” and import inquiries should increase.
Until then, offers for imported wire rod in the US domestic market from Brazil are still in the range of $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.