Induction route-steel wire rod manufacturers in Raipur further increased prices today by INR 2,500/t d-o-d to INR 57,000/t exw. A consistent rise in raw material prices resulted in a sharp hike in wire rod prices. However, trading activities in the spot market slowed down due to higher prices which forced suppliers to offer trade discounts up to INR 2,000/t, SteelMint learned.
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