Raipur-based steel wire rod manufacturers increased prices today by INR 1,300/t to INR 48,500/t exw. Rising steel billet prices and active transactions in wire rod in the last couple of days triggered a rise in prices. However, due to higher prices, limited buying enquiries were observed in the spot market today, which resulted in trade discounts of around INR 1,200-1,400/t being offered.
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