SteelOrbis has heard that import wire rod offers to India were recently in the range of $750-800/mt CFR, with slow response from buyers end, while import equivalent of local mill offer levels is in the range of $830-890/mt CFR, and it is expected that there will be price drops at integrated mills by around $100/mt.
However, part of previously booked stocks at much higher numbers are still to arrive, and against the background of the current halt due to holidays, buyers prefer to hold on to any activity and prefer to see if the prices will go further down or not.