Sentiment is still down in Indian long market in view of low demand and uncertainty in the raw material price. Most large producer in Raipur (Central India) keep the May'13 prices unchanged.
Wire rod 5.5MM offers stand at Rs 39,300/t (inclusive all taxes and loading, Ex Works). Small producer offers are lower by Rs 200-300/t as reported by trader based in the region. Trader offers are stable over moderate query.
In line Durgapur prices also stable at Rs 38,500/t. ‘Market operators agree that further developments will depend on buying activity in North India, as well as changes in the raw material segment.
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