With plenty of import wire rod positions available at US ports, sources say future arrival offers are still vulnerable to deals. However, the overall offer ranges are stable week-on-week, at $32.00-$32.50 cwt. ($705-$717/mt or $640-$650/nt) DDP loaded truck in US Gulf ports from India, and $33.00-$35.00 cwt. ($728-$772/mt or $660-$700/nt) DDP loaded truck in US Gulf ports from Germany and Malaysia.
Sources say US import wire rod offers will become more vulnerable to deals if US domestic wire rod prices start to drop—US spot prices are already weak on low demand and high inventories, and while an official price decrease isn’t likely, sources say a weaker trend could “definitely” influence buyers of US import wire rod.