Even though US domestic wire rod prices have once again moved beyond import wire rod offers with the latest mill price increase, sources tell SteelOrbis they don’t expect demand for imports to increase as a result. Demand in the US is being adequately supplied by US producers, and some sources think interest in import wire rod won’t measurably improve until Section 232 tariffs are rescinded. However, re-evaluating the tariffs is reportedly low on the Biden administration’s priority list, and the tariffs are expected to remain in place at least through this year.
This week, US import wire rod prices are unchanged, and some sources see “room to shift downward” in the near term as global prices adjust. As such, US wire rod imports from Germany are still in the wide range of $35.00-$38.00 cwt. ($772-$838/mt or $700-$760/nt) DDP loaded truck in US Gulf ports.