India: Secondary Wire Rod Offers firm in Raipur; Down in Durgapur

Secondary Wire Rod prices in Raipur have increased by INR 400/MT owing to improve in demand of finished product. Whereas, it has declined slightly by INR 300/MT in Durgapur owing to less demand.

Secondary Wire Rod prices in Raipur have increased by INR 400/MT in the last 1-week owing to rise in demand from the Biding & GI manufacturers. Raipur is a major producer for Wires and mostly sells its products to other states. However, demand is stagnant in Durgapur on the background of ongoing festival.

Currently, Wire Rod (5.5 mm) in Raipur & Durgapur is trading at INR 41,600/MT and INR 40,200/MT respectively (including Excise & VAT) in the last 1-week. Billet in Raipur is trading at INR 30,700/MT; up by INR 250/MT and in Durgapur, it is at INR 30,300/MT (ex-plant, Excise & VAT extra); down by INR 500/MT in the last 1-week.

Currently, 20G Binding prices in Raipur are hovering in the range of INR 48,000-48,500/MT and in Durgapur, it remain unchanged at INR 51,200/MT owing to slowdown in demand from the end-users.

Currently, 12G GI Wire in Raipur is trading at INR 49,500-50,000/MT and 12G Barbed Wire at INR 51,300-51,500/MT (ex-plant, Excise & VAT extra). There is a shortage of Barbed Wire in the market because of labour problem.

Durgapur based trader said, “Dispatch of Wire products remain low on the grounds of ongoing Durga Puja festival season in West Bengal and limited possibility of price change in the next week.”

As per SteelMint research, Raipur’s conversion spread has increased from 12G HB to 20G Binding Wires and from 12 G HB to 12G GI Wires.

 Weekly Price Change of Wire Rod (5.5 mm) and Billet

Basic price in INR/MT