USA's wire rod import market at standstill as trade case result looms

US wire rod import markets have remained quiet this week as traders await news on the country’s Section 232 trade investigation, the results of which are expected in the next few days.

Section 232 is a US governmental tool that would allow the US president to impose import duties on materials if he felt that they posed a risk to national security. Metal Bulletin sister title AMM’s price assessment for imported wire rod remained unchanged on Thursday June 29 at $485-494 per short ton ($535-545 per tonne) due to a lack of new cfr-basis import offers heard among traders. Still, even with the market chilled by the 232 case and a separate trade case against ten countries, some traders have sought potential new origins for wire rod imports. One trader had talked with a Vietnamese exporter recently, in addition to two Turkish...

Published

Nat Rudarakanchana

June 29, 2017

21:10 GMT