Sources report slow activity in the US import wire rod market this week, with high inventory levels and lagging end-use demand the primary factors for the trend. Slow demand in the US domestic wire rod market, combined with US wire rod mills competing “ferociously” for orders has also affected the import market, with some buyers attempting to squeeze deals out of US wire rod mills rather than “taking a gamble” on imported product.
Nevertheless, offer prices for US import wire rod have not changed in the last week. New offerings from India are still heard at $32.00-$32.50 cwt. ($705-$717/mt or $640-$650/nt) DDP loaded truck in US Gulf ports. US import wire rod offers from Germany and Malaysia are also steady this week at $33.00-$35.00 cwt. ($728-$772/mt or $660-$700/nt) DDP loaded truck in US Gulf ports.