Market sources report that wire rod prices in the local Indian market can be found in the range of INR 37,000-39,000/mt ($589-621/mt) delivered. Meanwhile, offers from China, which is the India's most important wire rod supplier, stand at $555-570/mt CFR. Sources tell SteelOrbis that demand for wire rod is on the poor side in India.
$1 = INR 62.83