Weak sentiments and sluggish demand in domestic market have led to fall in wire rod prices by INR 100-200/MT W-o-W. In global market, China’s export offers fell by USD 5/MT.
Wire manufacturers in Raipur and Durgapur have declined their prices slightly by INR 100-200/MT in a week. 5.5 mm wire rod is being offered at INR 25,700/MT ex-Raipur and INR 24,700/MT ex-Durgapur.
Demand continues to remain poor. It is also expected that market sentiments will remain weak in coming few days due to ongoing festival season.
MS billet prices have also fallen by INR 250/MT and it is being offered at INR 21,750/MT in Durgapur and INR 22,000/MT in Raipur.
Finished wires prices have declined by INR 200-300/MT. Currently, 12G GI wire is being offered at INR 37,800/MT and barbed wire at INR 40,000/MT in Raipur (prices including all).
As per a trader in Durgapur,”Market is almost closed due to ongoing Durga Puja in eastern India. We are not expecting much enquiries from buyers this week due to continuous holidays.”
Indian billet and wire prices as on 19 Oct’15
| City | MS Billet | W-o-W | 5.5 mm Wire Rod | W-o-W | 12G HB Wire | W-o-W | 20G Binding Wire | W-o-W |
| Raipur | 22,000 | -250 | 25,700 | -200 | 27,300 | -200 | 31,100 | -100 |
| Durgapur | 21,750 | -250 | 24,700 | -100 | 26,400 | -100 | 33,200 | -100 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Imported wire rod offers: Offers for imported Chinese wire rod went down by USD 5/MT. Currently, 6.5 mm mesh quality wire rod is offered at USD 283/MT, FoB China main port.
| Region | Offers | W-o-W |
| China export (FoB main port) | 283 | -5 |
| CIS export (FoB Black Sea) | 323 | -2 |
| South East Asia (CFR) | 296 | -2 |
Offers in USD/MT
Source: Steelmint Research
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