Prakash Industries Ltd., a major wire rod manufacturer in Chhattisgarh, central India, with daily production of about 1,000 t, has taken a planned maintenance shutdown for 15 days, sources informed. Besides, a few other mills are holding sales amidst active demand. These factors have collectively resulted in an increase in wire rod prices by INR 1,200/t d-o-d to INR 53,000/t exw Raipur. Trade discounts in the spot market are hovering around INR 800-1,000/t.
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