India: Wire rod stocks rising at mills in Raipur owing to dull demand

Induction furnace-route steel wire rod manufacturers in Raipur are sitting on huge inventories owing to weak spot sales after the festive holidays. However, the Durgapur mills have reported average inventories at their yards. Today, around 1,250 t of deals were reported by a few traders in Raipur at INR 49,700-49,900/t exw, while 1,200 t of deals were concluded at INR 49,000-49,200/t exw Durgapur.