Induction furnace steel wire rod prices in Raipur increased further by INR 300/t to INR 45,600/t exw on 8 Dec’21. Trade discounts by suppliers in the spot market hovered at INR 300-500/t. Rising raw material prices and moderately decent trading activity prompted manufactures to increase prices. SteelMint assessed the conversion cost from steel billet to wire rod at around INR 4,300/t.
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