While demand in the US import wire rod market remains tepid, sources say there are potential deals available for arriving material at US ports. Based on the most recent US steel import data, wire rod import permits for this month (as of April 17) are already at 82,249 mt, compared to 72,111 mt in permits for March. Although arrivals were ordered at higher prices than current offers, sources say traders are “open” to deals.
As for offers for future arrival, prices remain stable at $32.00-$32.50 cwt. ($705-$717/mt or $640-$650/nt) DDP loaded truck in US Gulf ports from India. Offers from Germany and Malaysia are still trending around $33.00-$35.00 cwt. ($728-$772/mt or $660-$700/nt) DDP loaded truck in US Gulf ports.