Indian Wires offers are on a consistent rise; an increase of INR 200-300/MT was recorded today. Demand picked up as market participants expect prices to increase further.
In Raipur, Wire offers moved up by INR 200-300/MT from the last trade. 5.5 mm Wire Rod and 20 Gauge Binding Wire was offered at INR 39,900/MT and INR 46,000/MT respectively.
Raipur is witnessing a shortage of Binding wires as some manufacturers have not stared production after Diwali. Queries for GI and Barbed wires have increased quite a bit.
In Durgapur, wires are being quoted higher but buying is still low. 5.5 mm Wire Rod is being offered at INR 38500/MT which is INR 200/MT higher than the last trade.
Note: Prices are Inclusive of VAT.
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