Wire rod prices jump up by INR 1,200-1,800/MT W-o-W in Raipur and Durgapur.
Last week, wire rod prices increased heavily in both eastern and central India. The main reason behind this increase in price is depreciating INR, accompanied by rising prices of MS billet. MS billet prices increased by INR 900-1,700/MT in Raipur and Durgapur.
Currently in Raipur, 12G GI wire and barbed wire are being offered at INR 41,200/MT and INR 44,500/MT respectively (including all taxes).
Wire Rod Import Offers: Imported Chinese wire rod offers continue to remain stable at INR 318-320/MT (FOB China, size 6.5 mm).
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 | 23,550 | + 900 | 27,800 | + 1,200 | 29,700 | + 1,200 | 32,200 | + 900 |
| Durgapur | 23,800 | + 1,700 | 26,700 | + 1,800 | 28,400 | + 1,800 | 35,200 | + 1,800 |
Basic Prices in INR/MT as on 25th Aug’15; ED and VAT/CST extra
Source: SteelMint Research
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