India: Wire rod trade weakens at higher prices

  • IF-route steel wire rod manufacturers increased offers by INR 200/t d-o-d to INR 52,300/t exw.
  • Prices were supported by an uptick in sponge iron and billet prices but demand remained low. Around 2,000 t deals were confirmed at INR 51,800-52,000/t exw-Raipur in today’s trading window.

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