Sources in the US import wire rod market continue to report steady prices and demand, although some have reported supply is not as tight as it was last week. Offers for imported wire rod in the US domestic market from Germany still around $36.50 cwt. ($730/nt or $805/mt) DDP loaded truck in US Gulf ports, and offers from Greece still ranging from $36.00-$37.00 cwt. ($720-$740/nt or $794-$816/mt) DDP loaded truck in US Gulf ports. Offers from Brazil, meanwhile, are trending at $35.00-$36.00 cwt. ($700-$720/nt or $772-$794/mt) DDP loaded truck in US Gulf ports.
There have been no new offers heard from Turkey in the last week, despite the “surprise” wire rod tonnage that arrived from Turkey in August. Sources say they are “nearly certain” that shipment arrived after Aug. 13, when the new 50 percent import tariff against Turkish steel went into effect. The surplus of higher-priced material is not expected to disrupt the US import wire rod market much, unless, as one source noted, traders try to unload it at a loss and compete with other available positions at the port.