Demand of wires continues to remain sluggish over lull trading activities and falling prices of MS billet
Wire rod manufacturers in Raipur and Durgapur are offering 5.5 mm wire rod at INR 26,800/MT and INR 26,000/MT respectively (basic price). Prices have slumped nearly by INR 600-800/MT W-o-W. MS billet prices declined by INR 300-600/MT W-o-W and the same is being offered at INR 23,300/MT in both the cities. Due to the ongoing festive season the demand is very low from end users and prices are expected to remain under pressure in the coming weeks.
Prices of finished wires also fell by INR 500-700/MT W-o-W in Raipur. 12G GI wire is being offered at INR 39,500/MT and 12G barbed wire at INR 41,500/MT (prices including all).
Primary market: As per sources, SAIL is offering 8 mm wire rod at INR 32,800-33,000/MT (FOR Chandigarh). RINL is offering 7 mm wire rod at around INR 34,000/MT (FOR Chandigarh).
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 | 23,300 | -300 | 26,800 | -600 | 28,700 | -600 | 32,300 | -500 |
| Durgapur | 23,300 | -600 | 26,000 | -800 | 27,700 | -800 | 34,500 | -600 |
Basic Prices in INR/MT as on 28 Sep’15; ED and VAT/CST extra
Source: SteelMint Research
Imported wire rod offers: Offers for imported Chinese wire rod have remained stable W-o-W. As per sources, 6.5 mm mesh quality wire rod of Chinese origin is being offered at USD 293/MT FOB China main port.
Global Wire Rod Prices
| Region | USD/MT | W-o-W Change |
| China export (FOB main port) | 293 | 0 |
| CIS export (FOB Black Sea) | 338 | 0 |
| South East Asia (CFR) | 305 | 0 |
Prices in USD/MT
Source: Steelmint Research
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