Raipur-based steel wire rod manufacturers observed weak demand and transactions over the last couple of days which forced them to reduce prices by INR 500/t to INR 52,500/t on 7 Feb’22. Besides, in order to liquidate inventory, the re-sellers are offering trade discounts in the spot market of around INR 1,500/t, despite which buying enquiries remain weak in the market, sources informed SteelMint.
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