Despite the rise in US domestic wire rod prices, US import wire rod offers are still too high to garner any serious interest. The lack of interest is expected to continue, because even when US prices start to decline as many predict—due primarily to scrap prices dropping—the long lead times for imported material will continue to make buyers hesitant about how US domestic prices will compare by the time imported material arrives.
Additionally, after a period of low inquiry levels, sources have heard that offer prices for serious inquiries is now higher than in the last few weeks. Currently, offers for US wire rod imports from Germany are in a still-wide range of $38.00-$42.00 cwt. ($838-$926/mt or $760-$840/nt) DDP loaded truck in US Gulf ports.