Traders told SteelOrbis as recently as last week that they expected interest in US wire rod imports to gradually increase as US domestic wire rod mills pushed for higher prices, but those expectations have shifted in light of the US DOC investigation into “illegitimate profiteering” in the US steel market. Sources say the investigation could force US domestic wire rod mills to lower prices—or at the least keep them at current levels—which would affect the competitiveness of imports.
For now, US import wire rod offers are stable, although sources say that could change once US domestic wire rod mills’ price policies start to respond to the investigation. This week, imported wire rod in the US domestic market from Brazil is still being offered at $35.00-$36.00 cwt. ($700-$720/nt or $772-$794/mt) DDP loaded truck in US Gulf ports.