IF route wire rod (5.5mm) suppliers in Raipur sold material in large quantities, with prices increasing consistently. The cumulative hike was recorded at INR 4,000/t today. Fresh offers were floated at around INR 52,000/t as against INR 48,000-48,200/t exw yesterday. Better demand and a surge in sponge iron and billet prices led to the wire rod price rally, SteelMint notes.
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