Although interest in US import wire rod remains lackluster, sources tell SteelOrbis there has been a slight adjustment upward in certain import offers. Egyptian wire rod offers to the US are stable at the level of $38.00 cwt. ($838/mt or $760/nt) DDP loaded truck in US Gulf ports, but offers from Germany have been heard slightly higher than last week. Offers for imported wire rod in the US domestic market from Germany are now around $37.00 cwt ($816/mt or $740/nt) DDP loaded truck in US Gulf ports, up $0.50 cwt. ($11/mt or $10/nt) compared to last week. Additionally, some offers have been heard as high as $38.00 cwt. ($838/mt or $760/nt) DDP loaded truck in US Gulf ports.
Sources tell SteelOrbis that the slight rise in German wire rod offers is not related to the recent price increase announced by US domestic wire rod mills. That increase, for $1.50 cwt. ($33/mt or $30/nt) effective immediately, has been described as “dead on arrival.”