Raipur-based induction furnace wire rod producers kept offers stable at INR 50,000/t exw today. Narrowing margins from steel billet to wire rod, currently hovering at INR 3,300-3,500/t, prompted producers to keep prices high. However, trading activity weakened on higher prices, which prompted traders to push up discounts to around INR 800-1,100/t in the spot market.
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