Although the demand situation for US import wire rod has not changed this week, offer prices have slipped downward, and sources say prices are likely not done dropping. Price weakness in the US domestic wire rod market is one contributing factor, sources say, although generally low demand levels “aren’t helping.”
This week, US import wire rod offers from Malaysia are now at $29.00-$29.50 cwt. ($639-$650/mt or $580-$590/nt) DDP loaded truck in US Gulf ports, while offers from Germany are now at $29.50-$30.50 cwt. ($650-$672/mt or $590-$610/nt) DDP loaded truck in US Gulf ports. Both offers reflect a decline of $0.50 cwt. ($11/mt or $10/nt) week-on-week.