Induction furnace-route steel wire rod manufacturers have cut their offers today by INR 400/t to INR 52,300/t exw. However, buying enquiries did not pick up even after the price cut. SteelMint recorded limited trades of around 750 t in today’s session in the price range of INR 51,000-51,300/t exw. Wire rod trade reference prices in competitive market of Durgapur, West Bengal, stand at INR 51,300-51,500/t exw.
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