Demand for US import wire rod remains weak, leaving offer prices flexible for serious buyers. However, the overall offer price range has not moved week-on-week, and sources say the current trend will likely sustain in the near term.
However, one source pointed out the possibility for an uptick in US import wire rod interest in the Gulf region—torrential rains in the Houston area this week have flooded many areas, including industrial areas that are home to a few major US domestic wire rod mills. Although there is no news yet regarding whether those facilities are damaged—and whether production will be affected—the source said a sudden drop in supply in the Houston area could make imports temporarily interesting.
For now, US import wire rod offers from Malaysia are stable at $29.50-$30.00 cwt. ($650-$661/mt or $590-$600/nt) DDP loaded truck in US Gulf ports, while offers from Germany are unchanged at $30.00-$31.00 cwt. ($661-$683/mt or $600-$620/nt) DDP loaded truck in US Gulf ports.