Sources tell SteelOrbis that demand for US import wire rod has remained steady in the last week, with no changes in inquiry activity or price levels. However, many buyers are reportedly keeping an eye on the US domestic wire rod market, which has experienced conflicting forecasts in the last week. While some sources believe US wire rod mills will soon announce a price increase, which would boost interest in the import wire rod market, others do not think US wire rod has strong enough demand to absorb an increase.
Buyers in the US are also finding minimal availability of already-arrived wire rod imports at US ports, as US import license data show only 53,982 mt in wire rod import permits for February (as of Feb. 26), compared to 109,527 mt in January and 77,925 mt in December.
As for future arrival offers, prices are stable week-on-week. US import wire rod offers from Germany are still ranging from $33.00-$35.00 cwt. ($728-$772/mt or $660-$700/nt) DDP loaded truck in US Gulf ports. Australian offers are also reported stable at around $33.00 cwt. ($728/mt or $660/nt) DDP loaded truck in US Gulf ports.