Prices for imported wire rod into the United States have spiked dramatically, mainly as a result of the June 1 implementation of Section 232 tariffs against the previously exempt European Union, Canada and Mexico.
American Metal Market's latest price assessment for wire rod imports jumped by 21.9% to $744-762 per short on Wednesday June 27, from $600-635 per ton previously.Import rod prices have firmed after 232-related uncertainty reigned in early June, and prices from Turkey now stand at $820-840 per tonne cfr, according to two market participants.One Turkish rod exporter believed US traders were ready to pay $820-840 per tonne for rod, a range that encompassed both mesh-quality and drawing quality rod. He characterized domestic and export wire rod demand in Turkey as "normal," but also noted that Turkish mills could sell rod to many countries, including in Europe, the Caribbean and Central...