Although there has not been any measurable increase in demand for US import wire rod, offer prices are up this week in conjunction with an uptrend in the US domestic wire rod market. With speculation that US wire rod mills could announce another price increase before the year is up, sources tell SteelOrbis that importers are “comfortable” raising prices slightly.
As such, US import wire rod offers from Germany are now ranging from $27.00-$28.00 cwt. ($595-$617/mt or $540-$560/nt) DDP loaded truck in US Gulf ports, reflecting an increase of $0.50 cwt. ($11/mt or $10/nt) in the last week.