India: Wire Rod Offer raised by 5% in Durgapur; while, 2% in Raipur

In Durgapur, Wire Rod offer increased by 5% in a month’s time owing to material shortage. Whereas, in Raipur price has moved up by only 2% because of limited buying.

Power cut in Durgapur as well as Wire Rod manufacturers preferring TMT manufacturing have made the shortage of material in city. High Ingot/Billet prices and low availability of Wire have raised Wire Rod prices by around INR 1,500/MT to about INR 35,200/MT for 5.5 mm in a month’s time.

On the other hand, in Raipur Ingot offer increased by INR 1,300/MT whereas, Wire Rod offers moved up by only INR 600/MT M-o-M owing to stagnant demand.

A native Wire manufacturer based at Raipur said, “We are just quoting higher as its raw material prices are high. Demand for Wire is stable with low trading volume and prices are fluctuating according to raw material.

He added further, Raipur 5.5 mm Wire Rod is at around INR 35,100/MT which is INR 100/MT lower from Durgapur. Earlier it was INR 800-1,000/MT higher form Durgapur, but material shortage in Durgapur has made the level approximately same.”