Falling steel futures on NCDEX, falling billet prices and missing buyers in the market is hurting margins for wire rod manufacturers.
Wire rod prices correct further by Rs 300-400/t. 5.5mm being offered at Rs 43,800-44,300/t (incld all) at Raipur down by Rs 400/t from yesterday's offer.Market traders report that few manufacturers are even selling at Rs 43,500/t (incld all) at Raipur.Billet offers ar Raipur also come down by Rs 300-400/t and being offered at Rs 32,400-500/t (Ex Works) Raipur.
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