Although Turkish mills are still technically offering wire rod to the US, traders say they have largely shifted their focus to other sources of import wire rod, which have been reported in a wide range of prices. Sources report the highest prices from European producers, with offers of imported wire rod in the US domestic market from Germany and Greece hovering around $30.00 cwt. ($600/nt or $661/mt) DDP loaded truck in US Gulf ports.
Meanwhile, offers from Egypt are reportedly just under $29.00 cwt. ($580/mt or $640/mt) DDP loaded truck in US Gulf ports. Sources say Egyptian wire rod offers were considered too high as of last week, but even though acceptance of higher offers has grown slightly since then, other sources point out the conflicting trends between import and domestic wire rod prices in the US—an attempt to raise US transaction prices faltered in the face of lower scrap prices this month, and spot prices for US domestic wire rod is now considered “negotiable,” leaving little incentive to book import orders.