Raipur-based steel wire rods manufacturers reduced prices today by INR 1,000/t to INR 60,500/t d-o-d. Decline in the prices of raw materials such as sponge iron and billets in the region resulted in cautious buying enquiries observed in the spot market even as the suppliers offered tradable discounts at around INR 1,000/t, sources informed SteelMint.
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