Steel wire rod manufacturers in Raipur increased prices further by INR 200/t today to INR 55,000/t exw. The price hike was backed by the rise in raw material prices. Buying enquiries, however, were weak as prices were high and only need-base procurement was seen. Around 1,200 t deals were recorded today in the spot market. Trade discounts via resellers were hovering at around INR 1,500/t.
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