India: Wire rod trade discounts remain range-bound in Raipur

Trade discounts for wire rods manufactured via the induction furnace route in Raipur, central India, remained almost stable, with moderate buying enquiries and firm offers on 2 Dec’21. Trade participants offered discounts of around INR 1,800-2,100/t. Notably, the conversion spread from billet to wire rod hovered at a satisfactory level of around INR 4,000-4,200/t, SteelMint learnt from trader sources.