India: Wire rod producers keep offers stable, traders raise discount levels

Trade discounts for steel wire rod in the Raipur market remained high at around INR 3,500/t on 15 Mar’22, while the base offer was kept stable by manufacturers at INR 63,000/t exw. Sharp fall in billet prices in key markets led to the rise in trade discounts for wire rod as buyers are not willing to procure material on higher prices.