A private steel mill in Odisha has concluded a commercial grade wire rod export deal to neighbouring Nepal for one rake (1,550 t) at around $630/t, loaded on to rake. The freight cost from the plant to Nepal is about $25-30/t – equivalent to $655-660/t, CPT Nepal. As per SteelMint assessment, wire rod prices in the Indian market continue to remain volatile on subdued demand and current offers for commercial grade (size 5.5 mm) are hovering at INR 46,000/t, exw-Raipur.
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