Amidst slack demand, this week wire market recorded no major fluctuation in prices.
Wire manufacturers based in Raipur have kept their prices almost stable throughout the week; however, MS billet prices slumped by INR 400/MT W-o-W.
In the finished wire segment, the demand continues to remain low due to which the prices are declining. 12G GI wire and 12G barbed wire are being offered at INR 41,000/MT (0) and INR 43,500/MT (- 400) (prices including all) respectively in Raipur.
“Prices of all grades of wire are likely to decline further in Raipur due to sluggish demand”, said a GI wire manufacturer based in Raipur.
Wire manufacturers in Durgapur have also maintained a stable level of prices throughout the week. As per a well known trader in Durgapur,“Prices of semi finish and finish long are expected to remain under pressure in coming few days as Odisha miners have recently cut iron ore prices upto INR 400/MT.”
Note: Prices on ex-plant basis
Primary market: As per sources, SAIL has increased its wire rod prices by INR 500/MT for Sept’15. Reportedly, their is no stock of wire rods in the Durgapur stockyard of SAIL.
Imported wire rod offers: Sources revealed that 6.5 mm mesh quality wire rod of Chinese origin is being offered at USD 302-305/MT FOB China main port. Offers have continued to remain stable since last week.
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 | 23,500 | – 400 | 28,000 | 0 | 29,900 | 0 | 33,000 | + 200 |
| Durgapur | 24,100 | 0 | 27,100 | 0 | 28,800 | 0 | 35,600 | + 100 |
Basic Prices in INR/MT as on 7 Sept’15 ; ED and VAT/CST extra
Source: SteelMint Research
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