US import wire rod market steady, may see upticks soon

Friday, 20 November 2020 20:48:25 (GMT+3)   |   San Diego

After the US domestic wire rod market absorbed a portion of a mill price increase announced earlier this month, sources tell SteelOrbis that import wire rod offers are “set to go up too,” based more on market sentiment than higher demand or higher prices on the foreign mill end.

For now, US import wire rod offers remain stable at $26.50-$27.50 cwt. ($584-$606/mt or $530-$550/nt) DDP loaded truck in US Gulf ports from Germany, although sources say offers on the low end of the range are “probably no longer available.” Additionally, despite the projected uptrend, there has not been a marked increase in buying activity to get ahead of higher prices.

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