Raipur-based steel wire rods manufacturers reduced prices by INR 700/t d-o-d to INR 51,500/t today. A consistent fall in raw material (sponge iron and billets) prices resulted in limited bulk bookings. Only 600 t of deals were recorded in the spot market at INR 50,800-51,000/t ex and FOR Raipur. However, suppliers were giving trade discounts at INR 500-700/t.
Leave a Reply