While demand for US domestic wire rod is “relatively steady,” demand for import wire rod remains quiet due to the ongoing tariff uncertainty in the market. Brazil is reportedly finalizing a deal to exchange tariffs for quotas, which would keep prices steady. Offers for imported wire rod in the US domestic market from Brazil are still reportedly around $33.00-$35.00 cwt. ($660-$700/nt or $728-$772/mt) DDP loaded truck in US Gulf ports.
But the fate of imports from other countries is less clear. Sources tell SteelOrbis that a shipment of German wire rod is set to arrive in the US in early June, past the June 1 deadline of the latest tariff exemption. In the absence of a finalized deal between the US and EU countries, tags on the German shipment will rise by 25 percent as soon as it hits the port. That would put prices far beyond current US domestic wire rod spot prices, which have struggled with price increases over the past few months as prices for other long products have spiked.