Wire rod and HB Wire prices are likely to remain under pressure for some time owing to over all dull market sentiments and fall in the prices of semi finish and Rebar.
Wire rod prices in Durgapur & Raipur have declined by INR 400-600/MT on the back of sluggish demand from end-users and fall in Billet prices.
Raipur is the major supplier of wires all across India due to good centralized location advantage. However, demand from West and South India is poor due to continuous imports from China.
According to a GI manufacturer in Raipur, “We are not receiving very good demand locally as well as from other states. Due to this reason we have cut down our production levels.”
Currently, 12G GI Wire and 12G Barbed wire are being offered at INR 37,600/Mt and INR 39,300/MT respectively in Raipur(Basic Price).
As per sources, a problem related to shortage of Wire rods was reported in Durgapur, which now seems to be solved as some plants like Adhunik Ispat Ltd and Gagan Ferrotech Ltd have resumed Wire rod production.
As per a trader in Durgapur, “Prices are expected to witness a downfall in coming few days due to dull demand and weakening of semi finish prices”
Indian Billet and Wire prices
| City | MS Billet | W-o-W Change | 5.5 mm Wire Rod | W-o-W Change | 12G HB Wire | W-o-W Change | 20G Binding Wire | W-o-W Change |
| Raipur | 26,500 | -400 | 30,100 | -600 | 32,100 | -600 | 37,100 | -500 |
| Durgapur | 27,200 | -400 | 31,500 | -400 | 33,800 | -400 | 40,500 | 0 |
Basic Prices in INR/MT as on 20 April’15, ED and VAT/CST extra
Source: SteelMint Research
5.5 mm Wire Rod Price Movement for the Last 6 months
Note: Prices above are ex-plant basis ;Basic price, ED & VAT/CST taxes extra.
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