Although offer prices for US import wire rod have not changed in the last week, sources tell SteelOrbis that price point are flexible for serious buyers. Offers from Germany are stable at $28.50-$29.00 cwt. ($628-$639/mt or $570-$580/nt) DDP loaded truck in US Gulf ports, while offers have been reported from Brazil at around $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP loaded truck in US East coast ports.
Additionally, sources say the price increase announcement this week for US domestic wire rod is unlikely to have an impact on import offers, due mostly to the demand situation but also because traders don’t believe US wire rod prices will rise. However, if US wire rod mills indeed find some success in pushing the increase through, traders say they are “ready and waiting” to take advantage of a gap between domestic and import offers, considering such prices are currently comparable.