Interest in US import wire rod continues to weaken

Friday, 23 August 2019 19:45:21 (GMT+3)   |   San Diego

As sources report that US domestic wire rod mills are eager to book orders at increasingly lower prices, US wire rod buyers are turning away from imports. For the time being, buyers are concerned about uncertainty in the market and are not interested in committing to a large-tonnage import order that won’t arrive until Q4, and traders report a drop-off in inquiry activity as a result.

Import wire rod offer prices to the US are therefore stable week-on-week, as traders are reportedly less inclined to narrow their margins even further by offering lower prices. Import wire rod offers from Malaysia are still at or below $30.00 cwt. ($661/mt or $600/nt) DDP loaded truck in US Gulf ports, while offers from Germany are still heard at $30.50-$31.50 cwt. ($672-$694/mt or $610-$630/nt) DDP loaded truck in US Gulf ports.

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