Induction furnace steel wire rod manufacturers in Raipur increased prices by INR 300/t to INR 48,800/t exw on 11 Jan’22. Both sellers and resellers in the spot market offered trade discounts at around INR 500-800/t. Rising raw material prices and improved trade enquiries kept prices supported. The conversion spread (margin) from billet to wire rod is around INR 3,300/t, as per SteelMint assessment.
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