Wire rod prices in Durgapur and Raipur have declined by INR 500-600/MT on the background of sluggish demand from end-users and fall in billet prices
In week 38, dull buying sentiment i.e poor demand was noticed which led to the downfall in prices of wire rod. 5.5 mm wire rod is being offered at INR 27,400/MT (-600) and INR 26,800/MT (-500) in Raipur and Durgapur respectively (basic prices). MS billet prices have slumped nearly by INR 800-1,000/MT W-o-W.
Demand for finished wires failed to improve last week. 12G GI wire and 12G barbed wire are being offered at INR 40,200/MT (-200) and INR 42000/MT (-400) respectively in Raipur (prices including all).
As per market participants, the market had remained volatile with some optimism earlier, but now the demand has become unsupportive due to limited buyers in the market. This situation will automatically create selling pressure and prices will reduce further.
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 | 23,700 | -1,000 | 27,400 | -600 | 29,300 | -600 | 32,800 | -300 |
| Durgapur | 24,000 | -800 | 26,800 | -500 | 28,500 | -500 | 35,100 | -400 |
Basic Prices in INR/MT as on 21 Sep’15; ED and VAT/CST extra
Source: SteelMint Research
Imported wire rod offers: Reportedly, 6.5 mm mesh quality wire rod of Chinese origin is being offered at USD 298/MT FOB China main port. Offers have remained stable W-o-W.
Global Wire rod offers
| Region | USD/MT | W-o-W |
| China export(FOB main port) | 298 | 0 |
| CIS export(FOB Black Sea) | 352 | 0 |
| South East Asia(CFR) | 308 | 0 |
Prices in USD/MT
Leave a Reply