Weakness in demand for US import wire rod has continued this week, although sources say offer prices have not been affected. The most competitive offers for imported wire rod in the US domestic market from Brazil are still being offered at $35.00-$36.00 cwt. ($700-$720/nt or $772-$794/mt) DDP loaded truck in US Gulf ports.
Other sources of import wire rod market are “trying to stake out a place” in the US market, with varying results. Greece, which hasn’t sent wire rod to the US in over a year, returned in June with import permits totaling just over 7,000 mt for the month. As of July 10, Greece has accounted for close to 10,000 mt so far this month, but sources say some buyers are wary of wire rod from Greece, noting that some of it is of “questionable quality.”