Raipur-based steel wire rod manufacturers observed lack of of trade enquiries on higher prices, which forced them to reduce prices today by INR 1,000/t to INR 59,500/t exw. The decline in semi-finished steel prices led to dull trading activity that led suppliers to float trade discounts of INR 500/t. Tradable discounts in the spot market via the resellers hovered around INR 1,500/t.
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