India: Wire Rod Prices corrected by Rs 200-300/MT

In India Wire prices corrected by Rs 200-300/MT as market sentiments are down and no buying of finished goods due rainy season. 

In Durgapur, Wire prices went down by Rs 300/MT from the previous trade. 5.5mm Wire Rod is traded at Rs 36,200/MT and 12 Gauge HB Wire are at Rs 38,600/MT.

Wire manufacturers of Raipur quoted 5.5mm Wire Rod at Rs 37,400/MT lower by Rs 200/MT from the previous trade.  In line HB Wire, Binding Wire and GI Wire prices also went down by Rs 200-300/MT. But Barbed Wire price remains unchanged from few days due to its slight demand. 

“Barbed Wire generally used to make wire boundary in fields and it is used mostly in the rainy season. So we do have some query for it that is why we are not quoting it lower with other wire prices”, said a Barbed Wire manufacturer based at Raipur. 12x12Gauge Barbed Wire is quoted at Rs 48,000/MT. 

All prices are inclusive of VAT.