Optimism within the US domestic wire rod market has reportedly “spilled over” to the import market, with import offer wire prices seeing an increase week-on-week. Current US import wire rod offers from Germany are now in the range of $29.50-$30.50 cwt. ($650-$672/mt or $590-$610/nt) DDP loaded truck in US Gulf ports, reflecting an increase of $1.00 cwt. ($22/mt or $20/nt) on the low end and $0.50 cwt. ($11/mt or $10/nt) on the high end of the range.
Despite the increase in offer prices, sources tell SteelOrbis that demand for import wire rod remains tepid, as overall uncertainty in the market continues to have buyers reluctant to place large orders that could be hit with new tariffs while in transit.