After a long time, Wire Rod prices have steadily gained momentum and so on demand. Offers enhanced by INR 800-900/MT in a couple of days.
This is the cherish time for Indian Wire manufacturers as Wire prices are increasing continuously from last 2 days. The price hike is mainly due to growing finish Long demand & boom in Ingot/Billet prices. However, manufacturers have also confirmed about material shortage (Wire).
Raipur: Wire Rod prices moved up by INR 800/MT in a week’s time in the city, while Binding Wire rate amplified by INR 1,200/MT as production is low owing to labour shortage and power cut.
“In pan India, TMT demand has suddenly boosted up which led to boom in Ingot/Billet prices and so on Wire Rod prices. Although, we also have inquiries galore for product but do not have stock to supply.”
– Raipur based Wire manufacturer
Durgapur: Wire manufacturers have achieved price increment of INR 900/MT in last 2 days. NCR region is the major consumer of Wire Rod, who purchases material from both cities Raipur & Durgapur. Being the nearest place in comparison to Raipur; Durgapur always seizes the demand.
“Neither raw material shortage nor production cut but the demand has enhanced Wire market. Demand in the market has outstripped the supply thus leading to a price rise.”
– A Trader based at Durgapur
Leave a Reply