India: Wire rods prices witness a sharp hike of INR 1,500/t in Raipur, Chhattisgarh

Induction furnace steel wire rods manufacturers in Raipur, Chhattisgarh, increased prices today by INR 1,500/t to INR 65,000/t exw d-o-d, with trade discounts of INR 500/t. Prices are rising due to higher raw materials prices and moderate bookings over the last couple of days. Trade discounts via the resellers in the spot market are hovering over INR 1,500/t, SteelMint learned.