Wire rod manufacturers in Raipur, Chhattisgarh, observed weak purchase enquiries on higher prices and in the spot market traders offered hefty discounts to liquidate existing stocks and recover losses. Weak market sentiments and fluctuating semi-finished steel prices put brakes on bulk trading activity. The trade reference price by the mills stood at INR 60,000-60,400/t exw Raipur and INR 58,800-59,200/t exw Durgapur, as per SteelMint assessment.
Leave a Reply