As per our sources, state owned Steel Authority of India Limited (SAIL) has increased wire rod offers by INR 500/MT on MS grade offers while EQ grade has kept the offers unchanged for Aug’16.
However, it is also heard that the company has also kept the rebar offers unchanged as of now. All the large steel companies in India are eagerly waiting for the extension of MIP which is going to announced on 4 Aug’16, a day before the MIP expires.
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