India: IF-route wire rods market starts week on positive note

Induction furnace (IF)-route steel wire rods market received an active response today. The market closed on a positive note in the previous week as adequate bookings were received by suppliers and continued the trend. Rising sponge iron and billets prices supported the increasing wire rods prices. Deals for around 4,400 t concluded at INR 49,300-50,200/t exw-Raipur, while 3,000 t in Durgapur market at INR 50,000-50,300/t exw.