Amid improved demand and average buying from end user this week, Wire market improved slightly.
Durgapur: Slight increase in Wire prices is being noted since past two days due to improved demand. However, this week prices of all the grades of wire marginally declined by INR 300/MT overall.
As per a trader in Durgapur, “Many manufacturers have cut down production and we also faced shortage of material. But now demand is picking up slightly due to which prices have risen over the past 2-3 days.”
Demand may further pick up in Durgapur if imported Wire Rod leaves Indian Steel Market.
Raipur: Both 5.5 mm Wire Rod and 12G HB Wire prices have declined by INR 400/MT and 20G Binding wire fell by INR 100/MT W-o-W. Also, there seems to be regular demand for 12G GI Wire and 12G Barbed Wire in the market. These materials are being offered at INR 44,400/MT and INR 46,200/MT respectively. Although, prices have dropped over the whole week, yet demand has lifted up in the past two days.
A GI Wire manufacturer based in Raipur commented, “Demand in general is picking up. We are receiving orders locally but demand from other states is very less.”
Note: Prices above are including all taxes.
Weekly Price Change of Wire & Billet
|
City |
MS Billet | W-o-W | 5.5 mm Wire Rod | W-o-W | 12G HB Wire | W-o-W | 20G Binding Wire |
W-o-W |
| Raipur | 26,700 | -200 | 30,400 | -400 | 32,400 | -400 | 37,000 | -100 |
| Durgapur | 27,900 | -200 | 31,200 | -300 | 33,400 | -300 | 40,000 | -300 |
Basic Prices in INR/MT as on 19 Mar’15, ED and VAT/CST extra
Source: SteelMint Research
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