Although US import wire rod offers were showing signs of retreat as of last week, the downtrend has stalled now that global scrap prices have swung back to an uptrend. Sources tell SteelOrbis there might be room to negotiate with current import wire rod offers, but overall levels are still far too high to attract buyer interest.
As with last week, US wire rod import offers from Germany are still in the wide range of $37.00-$41.00 cwt. ($816-$904/mt or $740-$820/nt) DDP loaded truck in US Gulf ports.