Steel wire rod (5.5mm) manufactured via the induction furnace route witnessed weak spot demand in Raipur, central India on 1 Dec’21. Manufacturers kept the base price stable at INR 47,000/t, d-o-d, and offered trade discounts of INR 1,800-2,100/t. Declining prices of semi-finished steel products and weak demand resulted in buyers becoming cautious about procuring new material, SteelMint notes.
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