Demand for import wire rod in the US is not currently “robust,” sources say, with many US customers turning toward negotiable domestic offers rather than booking import orders at slightly lower prices. Sources tell SteelOrbis that most import wire rod offers are trending up this week, reducing the incentive to book imports further, depending on the source region.
Offers of imported wire rod in the US domestic market from Germany and Greece have remained mostly the same in the last week, still hovering around $30.00 cwt. ($600/nt or $661/mt) DDP loaded truck in US Gulf ports. Meanwhile, offers from Egypt saw a slight rise of about $0.50 cwt. ($10/nt or $11/mt) this week, moving up to approximately $29.50 cwt. ($590/nt or $650/mt) DDP loaded truck in US Gulf ports. Lastly, offers from Turkey are “technically out there,” said one source, although Turkish mills are reportedly hesitant to lower offers in line with other markets due to ongoing AD/CVD investigations.