US import wire rod market steady, but cautious

Friday, 19 May 2017 22:12:01 (GMT+3)   |   San Diego
       

Buying activity in the US import wire rod market is still following a lackluster trend as US traders await preliminary results in the AD/CVD case against wire rod producers in 10 countries, along with the imminent results from the Section 232 investigation, which covers all steel imports.
 
The AD/CVD investigation has had minimal impact on the market so far—if any countries involved are hit with a critical circumstances judgement, the retroactive period would cover imports arriving past June, so sources say orders booked now are “still safe.” However, the Section 232 investigation has traders reportedly “on edge,” and it is already affecting decisions such as how much position inventory they’re willing to take on.
 
Wire rod import arrivals are continuing to flood into US ports, with April import permits totaling 134,363 mt and May import permits totaling 110,148 mt as of May 16. But despite the state of wire rod demand in the US, traders tell SteelOrbis that there is “little incentive” to slash position prices in order to move inventory.
 
For now, Turkish offers of imported wire rod in the US domestic market are still ranging from $23.00-$24.00 cwt. ($460-$480/nt or $507-$529/mt) DDP loaded truck in US Gulf ports, unchanged in the last week.

Similar articles

Wire rod prices in Taiwanese domestic market - week 13, 2024

29 Mar | Longs and Billet

US domestic wire rod prices still soft

28 Mar | Longs and Billet

Wire rod consumption in Mexico increases 6.5 percent in January

28 Mar | Steel News

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

UAE-based ESA cuts wire rod prices for April despite better demand

28 Mar | Longs and Billet

Asian wire rod market tumbles amid pessimism in China

28 Mar | Longs and Billet

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

Saudi Arabia’s Hadeed keeps local longs prices stable again for April

26 Mar | Longs and Billet

Local Turkish official domestic wire rod prices follow diverse trends

26 Mar | Longs and Billet