With the US import steel market as a whole “on hold” awaiting the results of the Section 232 investigation, new offers for most imported steel products are not available. In the event of a “wave of tariffs,” as some sources predict, US wire rod buyers will be responsible for the additional costs and most are unwilling to take the risk, turning to domestic mills for their immediate needs. However, those needs are limited this week with the approach of the Fourth of July holiday next week.
The last heard Turkish offers of imported wire rod in the US domestic market were $23.50-$24.50 cwt. ($470-$490/nt or $517-$540/mt) DDP loaded truck in US Gulf ports, but traders tell SteelOrbis that inquiries are “virtually nonexistent.”