In a week’s time, Indian wire rod producers based in Raipur increased their prices by INR 200/MT where as in Durgapur there was a decline seen in same proportion.
Manufactures in the respected markets reported that, the traders who play a major role in the wire market industry are hesitant to take position over volatile Steel prices.
They further added “demand from the end user segment are still bearish which was expected to boom post budget declaration.
Currently the offer price for wire HB (12G) & Wire rod (5.5mm) is cheaper in Durgapur by INR 1,500-2,000/MT than the offer provided by Raipur based manufacturers. Although, supply destinations are similar for both the markets which is North, West & South India.
Indian Wire Rod prices for 5.5mm as on 6th Feb’17
| Region | Markets | Size, Grade, Origin | Prices | D-o-D | W-o-W | M-o-M |
| East India | Ex-Durgapur | Binding Wire(20 Gauge), commercial | 36,800 | 0 | -200 | -1,800 |
| HB Wire(12 Gauge), Commercial | 28,800 | 0 | -200 | -1,800 | ||
| Wire Rod(5.5 MM), Commercial | 26,800 | 0 | -200 | -1,800 | ||
| Central India | Ex-Raipur | Barbed Wire(12*12 Gauge) | 36,600 | 0 | 0 | -2,400 |
| Binding Wire(20 Gauge) | 33,550 | 0 | 0 | -1,750 | ||
| GI Wire(12 Gauge) | 34,850 | 0 | 0 | -2,150 | ||
| HB Wire(12 Gauge) | 30,500 | – 100 | 200 | -700 | ||
| Wire Rod(5.5 MM), commercial | 28,500 | – 100 | 200 | -700 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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