Demand for US import wire rod has not increased or decreased measurably in the last week, but offer prices remain soft. Offers from Germany have now slipped down to match Malaysian offers, which are unchanged week-on-week. US import wire rod offers from Germany and Malaysia are now in the narrow range of $29.00-$29.50 cwt. ($639-$650/mt or $580-$590/nt) DDP loaded truck in US Gulf ports.
Sources say wire rod buyers in the US are largely turning to domestic producers for orders when needed, as shorter lead times are an advantage amid overall uncertainty in the market. Additionally, US domestic wire rod prices are increasingly soft, and set to drop further once US domestic scrap prices settle downward as expected this month.