Wire rod makers in Raipur and Durgapur have increased offers inline with the increase in billet offers during Aug’16
Wire rod offers in Durgapur and Raipur have recorded an increase of INR 600/MT during the month of Aug’16. Whereas, in July’16, it had decreased upto INR 1,300/MT .
Certainly, the prices of wire rod have increased by INR 600/MT in both Durgapur and Raipur in a month’s time. However, the demand is not very encourgaing from the downstream industry like binding wire, GI wire and barbed wire as per the opinion of a well known GI manufacturer in Raipur.
In Sep’16, wire rod prices are likely to remain firm on account of rise in billet prices. However, conversion gap will remain under pressure.
Indian billet and wire prices as on 2 Sep’16
| City | MS Billet | M-o-M | 5.5 mm Wire Rod | M-o-M | Monthly Average wire rod prices (Aug’16) | Monthly Average wire rod prices (July’16) | % Change |
| Raipur | 20,750 | +700 | 25,600 | +500 | 24,900 | 25,000 | 0.00% |
| Durgapur | 20,500 | +700 | 23,700 | +700 | 22,700 | 23,300 | -3.00% |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Note : Prices are basic
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