US import wire rod market stays quiet, prices widen

Import wire rod prices into the United States have weakened slightly, but few traders are booking, market participants said.

Prices fell on the bottom end of the range, dropping to $572-600 per ton ($631-661 per tonne) in American Metal Market’s latest assessment on Wednesday January 10. That represents a wider range than two weeks ago, when prices were $581-600 per ton ($640-660 per tonne).
Still, the market remains quiet, traders said, noting that such import rod prices don’t represent a healthy spread or discount compared with domestic rod prices.

The import market is “more of the same,” with little changed since late December, according to one trader. Import prices are equal to or even higher than domestic rod prices on a delivered basis, he...

Published

Nat Rudarakanchana

January 11, 2018

19:38 GMT

New York