- Healthy sales, improved trade lift wire rod prices
- Prices may continue rising on forward bookings
Indian wire rod prices surged in December 2025, in the induction furnace (IF) route as well as in the blast furnace (BF) segment. Market sentiment was positive, supported by strong wire rod demand.
IF-route prices increased by INR 1,900/tonne ($21/t) m-o-m to a monthly average of INR 40,300/t ($446/t) exw-Durgapur and by INR 2,000/t ($22/t) m-o-m to INR 41,000/t ($454/t) exw-Raipur in December. In the BF-segment, wire rod prices (5.5-6mm, SAE1008) rose by INR 300/t ($3/t) m-o-m to an average of INR 48,000/t ($532/t) exw-Jharkhand in December 2025.
Spot trade reference prices of IF route wire rod stood at INR 44,000-44,500/t ($487-$493/t) exw-Raipur and INR 43,000-43,400/t ($476-$481/t) exw-Durgapur on 5 January 2026. BF-route wire rod prices (5.5-6mm, SAE1008) were assessed at INR 48,500/t ($537/t) exw-Jharkhand on 26 December 2025.
Cumulative wire rod production via the IF and BF routes during January-November 2025 stood at 7.2 mnt, up 4% from 6.9 mnt in the same period in 2024, as per data maintained with JPC.
Factors behind market dynamics
Raw material prices rise: Indian sponge iron and billet prices strengthened in December due to improved bookings in the semi-finished steel segment. Procurement activity strengthened across regions, with buyers returning to the market following a prolonged period of weakness in domestic sponge iron and billet demand. Additionally, buying from neighbouring markets helped lift spot prices, while sellers maintained balanced supply. These factors encouraged manufacturers to raise their offers.
Considering Raipur as the benchmark, billet prices rose by INR 3,950/t ($44/t) m-o-m to INR 40,450/t ($448/t) ex-works, while sponge iron (PDRI FeM 80% ±1) increased by INR 650/t ($7/t) m-o-m to INR 24,550/t ($272/t) ex-works. These firm raw material prices underpinned the upward movement in IF wire rod offers. (Note: Raipur’s billet and sponge PDRI prices have been considered from 1 December 2025 to 1 January 2026.)
Improved demand pushes up IF route wire rod prices: In December, healthy demand in the wire rod market pushed up spot prices. While trading activity increased, buyers also consistently bought material at elevated prices. Additionally, the price rise was driven by healthy future bookings, with mills receiving orders for around 10-15 days, which reduced inventory pressure in the mills and prompted a surge in spot offers.
BF prices rise but primary mills face limited demand: BF wire rod prices recovered marginally in December 2025, supported by improved buying interest and gradual easing of liquidity constraints. Demand from the construction sector showed early signs of revival, aiding rebar and wire rod consumption. The automobile segment also recorded slightly better offtake for fasteners and components. Overall sentiment improved modestly, though buying remained selective amid cautious market optimism.
Outlook
Wire rod market sentiment is expected to remain positive in January, with expectations of continued upward momentum in pricing, given that several mills have secured forward bookings.
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