NEW YORK U.S.
wire rod transaction prices increased this past week due in
part to steady demand, according to market sources.
Deals were concluded
at $570 to 580 per ton ($28.50 to $29 per hundredweight) c.i.f.
Port of Houston for March delivery, up from $550 to $570
participants reported receiving several wire rod import offers
from Chinese producers at $580 per ton.
"Weve heard of
offers at $580 per ton. From what Ive heard, everyone has
been placing orders at that price," one U.S. wire rod producer
There are rumors
circulating that U.S. producers will file an anti-dumping case
against imports of Chinese wire rod, with some wire rod market
participants rushing to import material ahead of the potential
trade case, sources said.
"Its not a good
business to be in right now. There is too much local
competition and the risk is too high and margins are thin," a
trader told AMM.
Wire rod demand in the
United States remains steady as most market participants
purchase small tonnages on a hand-to-mouth basis.
"Our business is doing
OKits steady. I buy what I need when I need it. I
dont speculate by buying ahead. I stopped doing that a
long time ago. If I was good at it Id be on Wall Street,"
a wire rod distributor source said.
China will ship 67,876
tonnes of wire rod to the United States this month, according
to data from the U.S. Commerce Departments Enforcement
and Compliance division collected through Jan. 21, up from
35,900 tonnes in December.