Currently, Binding Wire (20 gauge) in Raipur (Chhattisgarh) is being traded at INR 48,500/MT, which is almost INR 3,200/MT cheaper than Durgapur (West Bengal) prices at INR 51,700/MT.
Wire Rod price in Durgapur has declined by INR 1,500/MT. Whereas in Raipur, it has fallen by INR 700/MT in the last 1-month. While, Binding Wire prices in Durgapur have corrected by INR 2,000/MT and in Raipur by INR 4,000/MT that has shrunk the conversion spread.
Currently, the conversion spread from HB (12 gauge) to Binding (20 gauge) in Raipur is hovering in the range of INR 4,000-4,500/MT and in Durgapur at INR 8,000-9000/MT.
Binding wire (20 gauge) in Giridih (Jharkhand) is being traded at around INR 51,200/MT.
Billet in Raipur is trading at INR 30,100/MT, down by around INR 1,800/MT. Meanwhile, Durgapur is trading at INR 30,300/MT; down by INR 1,700/MT against last month price.
According to one of binding manufacturers based in Raipur, “Demand of Binding Wire has decreased in the last few days and it will continue to correct in near-term.”
A Durgapur based trader urged, “Currently, Binding Wire demand is strong and supply has increased in North India especially in UP.”
- binding
Leave a Reply