India: Wire rod prices remain weak down by INR 500/t d-o-d

Raipur-based steel wire rod manufacturers declined the prices further today by INR 500/t to INR 51,000/t exw. Limited buying enquiries and weak market sentiments in semi-finished steel led to dull trading activities and forced manufacturers to consistently decline the prices of wire rods. Trade discounts in the spot market hovered around INR 1,500/t, sources informed SteelMint.