India: Wire rod trade discounts rise by up to INR 800/t in Raipur

The wire rod market in Raipur saw active offers today, as selling pressure pushed up trade discounts to INR 2,000-2,300/t. Thus, discounts rose by INR 500-800/t today. The conversion spread from billet to wire rod also declined significantly by INR 500-800/t d-o-d. However, traders deferred buying amidst fluctuations in semi-finished steel prices, SteelMint notes.