Despite steady demand and tight supply, US import wire rod offers remained unchanged this week, but considering current prices from Brazil fall under the Section 232 tariff exemption that expires on May 1, sources say order activity is light. Brazil is currently negotiating for a quota system instead of tariffs, and any orders booked in the current range would have to arrive in the US by May 1 to avoid tariffs. As such, while 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, sources are telling customers to “brace for higher prices” if they’re serious about booking.
As for current US import wire rod arrivals, Brazil remains the most significant non-NAFTA source, with 16,886 mt imported in March (preliminary census data) and import permits totaling 9,276 mt for April (as of April 25). Egypt is also becoming a steady source of import wire rod to the US, with 8,001 mt imported in March and import permits totaling 8,386 mt so far in April.