With demand continuing to trend relatively low in both the US domestic and import wire rod markets, sources tell SteelOrbis there is little reason for import offer prices to change in the near-term, especially considering the approximate $3.00-$4.00 cwt. ($66-$88/mt or $60-$80/nt) margin between US domestic spot prices and import offers.
Most offers for US import wire rod are still coming from Germany, with offer prices in the range of $33.00-$35.00 cwt. ($728-$772/mt or $660-$700/nt) DDP loaded truck in US Gulf ports. Australian offers are also still reported at around $33.00 cwt. ($728/mt or $660/nt) DDP loaded truck in US Gulf ports. Additionally, one trader said a mill source in Turkey indicated he would have a wire rod import offer soon, but the inquiry didn’t go anywhere—not a surprise, considering Turkey is still subject to 50 percent Section 232 tariffs.