As demand for wire rod in the US continues to get stronger, sources tell SteelOrbis that buyers in the US are becoming more willing to pay higher prices for imports in order to secure supply, even if it means prices upon arrival are higher than US domestic spot prices at the time. However, sources maintain expectations that US domestic wire rod prices will remain high in the near-term, and if prices do start to decline, the downtrend will be gradual.
This week, US import wire rod offers are unchanged, but sources say slight upticks are “not out of the question” in the coming weeks. For now, US wire rod offers from Germany are still in the range of $42.00-$44.00 cwt. ($926-$970/mt or $840-$880/nt) DDP loaded truck in US Gulf ports.