Major mid-scale mills in Raipur, central India have reduced wire rod offers today by INR 1,200/t d-o-d. Current offers for wire rod (5.5mm) stands at INR 34,400/t exw, excluding 18% GST. These mills account for over 30% share in India’s secondary mills wire rod production. Prices have dropped on account of poor demand and sharp fall in billet prices by upto INR 1,000/t in last couple of days.
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