Induction furnace wire rods manufacturers in Raipur, central India, observed weak buying enquiries in the spot market with offers at INR 61,500/t exw. The decline in semi-finished steel prices in key markets led to weak sentiments in the market and a huge disparity was observed between bids and offers. However, in order to recover losses, resellers offered trade discounts of up to INR 1,500/t.
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