India: Wire rod trade discounts rise in Raipur despite price correction

Steel wire rod re-sellers in Raipur have offered healthy trade discounts in its prices, almost inching up to INR 2,000/t. Considerably, selling pressure in finished products of wire rods amidst piled-up inventories prompted mills to reduce its quoted prices. Re-sellers have increased trade discounts to maintain the liquidity chain, said trade channels.