Raipur-based steel wire rod manufacturers reduced prices today by INR 700/t to INR 57,500/t exw. Consistent decline in prices of raw materials, such as sponge iron and billets, across the region resulted buyers becoming lesser active to procure material in bulk. Uncertain market trends forced manufacturers to reduce offers in the spot market. Tradable discounts were reported at around INR 1,500-2000/t, sources informed SteelMint.
Leave a Reply