With continually strong demand for wire rod in the US and uptrending US domestic wire rod prices, import offers for the product have increased slightly week-on-week. Offers for US import wire rod from Germany are now in the range of $42.50-$44.50 cwt. ($937-$981/mt or $850-$890/nt) DDP loaded truck in US Gulf ports, up $0.50 cwt. ($11/mt or $10/nt) since last week.
Sources still expect wire rod prices—both domestic and import—to remain high in the near-term, although longer-term forecasts still point to a gradual retreat in prices.