US import wire rod prices unlikely to rise

Friday, 13 December 2019 21:46:17 (GMT+3)   |   San Diego
       

While US import offers for some long products are trending upward along with respective US domestic prices, US import wire rod offers are not likely to join them. The US domestic wire rod price increase announced in late November has stalled, and sources tell SteelOrbis that demand for both import and domestic wire rod is “pretty terrible.” As such, import wire rod offers are stable this week—although sources note that offers are also unlikely to drop further.

Offer prices for Brazilian wire rod are unchanged this week at $28.25-$29.25 cwt. ($623-$645/mt or $565-$585/nt) DDP loaded truck in US East coast ports, although sources tell SteelOrbis that Brazilian producers are pushing for $10/mt higher on the CFR level with little success, mostly due to the uncertainty surrounding Donald Trump’s announcement this month that Section 232 tariffs will be reinstated against Brazilian steel imports—so far, the US Department of Commerce has not officially announced new tariffs.

Elsewhere, offers from Germany are stable week-on-week at $28.50-$29.00 cwt. ($628-$639/mt or $570-$580/nt) DDP loaded truck in US Gulf ports.


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