Raipur-based suppliers of induction furnace steel wire rods increased the spot trade discount marginally by INR 100-300/t to INR 2,200-2,400/t on 3 Dec’21. Besides, manufacturers reduced their base offers sharply today by INR 700/t to INR 46,300/t exw. Consistent fall in steel billet prices resulted in a correction in wire rod prices, SteelMint notes.
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