India: IF-route wire rod prices drop up to INR 1,800/t w-o-w
India's induction furnace route wire rod prices have been declining for three consecutive weeks now. The prices have dropped by INR 1,800/t in Raipur and INR 1,200/t in Durgapur market w-o-w. Such scenario was brought on by subdued buying enquiries on higher prices and as well as continuously falling in raw material prices( sponge iron and steel billet).