US import wire rod offers remain steady amidst uptrend

Friday, 10 February 2017 00:44:34 (GMT+3)   |   San Diego
       

After scrap prices in Turkey reversed trend this week and started to rise, traders tell SteelOrbis that Turkish mills are attempting to firm up import wire rod offers to the US. However, lackluster demand in the US for both domestic and imported wire rod has prevented the import price uptrend from translating into actual sales prices in the US. Sources tell SteelOrbis that even though many buyers held back from booking imports in order to see how low offer prices could get, the reversal in price trends has not inspired buyers to book before prices climb further.
 
For now, Turkish offers of imported product in the US domestic market are still ranging from $21.00-$22.00 cwt. ($420-$440/nt or $463-$485/mt) DDP loaded truck in US Gulf ports, unchanged in the last week, as buyers stick to the flexible domestic wire rod market to fill inventory holes.

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