Continuous strong demand and tight supply have firmed up US domestic wire rod prices on the low end, bringing the average spot range to $50.00-$51.00 cwt. ($1,102-$1,124/mt or $1,000-$1,020/nt) ex-mill, compared to $49.00-$51.00 cwt. ($1,080-$1,124/mt or $980-$1,020/nt) ex-mill last week.
Sources tell SteelOrbis that expectations for further price increases have led many to reconsider import offers—though import prices are still trending higher than domestic prices, the comparable lead times and forecasts for higher US prices down the line has made imports a more reasonable prospect than they’ve been recently, sources say.