Wire Rod offers in Raipur (Central India) have come down by INR 400/MT W-o-W. However, remain unchanged in Durgapur.
Wire Rod offers in Raipur have reduced by INR 400/MT to INR 38,200/MT on account of soften Billet offers by INR 550/MT and low demand in the current week. However, market participants don’t see any major fall ahead from present levels.
In Durgapur, prices remain firm at INR 38,800/MT. Whereas, Billet prices have soften by INR 450/MT W-o-W.
12(G) GI Wire in Raipur is being offered at INR 47,000/MT; down by INR 500/MT. But, 12G Barbed Wire offers are firm and being traded at INR 50,000/MT owing to better buying in the market.
20G Binding Wire in Raipur is being offered at INR 45,500/M; down by INR 300/MT and in Durgapur at INR 48,500/MT; down by INR 600/MT.
Note: All prices are including of Excise & Taxes
A GI Wire manufacturer based in Raipur said that GI offers have corrected owing to decrease in HB Wire prices. But, there is shortage of labour coupled with decent demand, which has held Barbed Wire prices.
Imported Wire Rod
Currently, imported Wire Rod booking is lower owing to strong dollar and poor off-take, which has raised inventory level at Mumbai Port.
A Wire Rod importer based in Mumbai said, “Currently, imported Wire Rod booking is lower as traders are already holding stock, which is still unsold because of weak demand. At present, 5.5 mm material is being offered at USD 440/MT, CFR Mumbai 5% import duty, CVD & SAD extra; has decreased from the last offer by USD 10/MT. Prices are equivalent to INR 31,000-31,500/MT; cheaper by INR 2,000-3,000/MT as compare to domestic prices.
Billet & Wire Rod (5.5 mm) Weekly Price Change
| City | Wire Rod | Price Change | Billet | Price Change | Remarks |
| Raipur | 32,400 | – 400 | 28,200 | – 550 | GI offers down by INR 500/MT |
| Durgapur | 32,900 | 0 | 29,300 | – 450 | Binding Wire offers down by INR 600/MT |
Basic prices in INR/MT as on 20 Dec’14
Source: SteelMint Research
Exchange Rate: USD 1 = INR 63.35