The steel wire rod (5.5mm) market in Raipur (Chhattisgarh) saw weak demand in today’s trading session. Raipur is a major market for the product manufactured by induction furnace steelmakers. Suppliers increased the base price by INR 300/t to INR 47,000/t today and offered discounts of INR 1,200-1,500/t. However, buying enquiries and spot trading activity remained subdued, sources informed SteelMint.
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