In Raipur and Durgapur Wire Rod prices have come down by Rs 500-900/MT in last one week. Wire rod (5.5MM) has limited production and is mainly supplied all over India to make Binding Wire, HB Wire, Nails, bolts and other machinery items. Industry demand was good last week when production was limited. However due to negative sentiment and falling raw material price, wire rod's demand and prices are down.
According to a Wire Rod manufacturer based in Raipur- “Demand in general is not encouraging but overall sales volume is average. Whereas raw material prices and re-bar market is not encouraging that will create an impact in the market”
At present in Raipur 5.5 MM is traded at Rs 38,350/MT and in Durgapur the same is offered at Rs 37,300/MT that use to be same some time ago. All Prices include VAT.
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