Indian MS wire producers are reeling under pressure over little inquiries for the product. As a result, during the last week, prices in Raipur & Durgapur have reported another fall up to INR 500/MT.
The price downward is assessed in Wire rod, HB & Binding wire by INR 50-150/MT. Currently, the prices of 5.5MM Wire Rod and 12G HB wire in Raipur are INR 28,400/MT & INR 30,400/MT, respectively. Whereas, in Durgapur the prices are prevailing at INR 26,600-26,700/MT & INR 28,600-28,700/MT, respectively.
Further, in Raipur the offers for 12G GI wire and 12*12G Barbed wire have seen a fall of INR 400-500/MT and stood at INR 34,400/MT & INR 36,150-36,200/MT, respectively.
Indian MS Wire prices as on 13 Feb’17
| Region | Markets | Size, Grade, Origin | Prices | W-o-W |
| East India
|
Ex-Durgapur
|
Binding Wire(20 Gauge), commercial | 36,650 | -150 |
| HB Wire(12 Gauge), Commercial | 28,650 | -150 | ||
| Wire Rod(5.5 MM), Commercial | 26,650 | -150 | ||
| Central India
|
Ex-Raipur
|
Barbed Wire(12*12 Gauge) | 36,150 | -450 |
| Binding Wire(20 Gauge) | 33,500 | -50 | ||
| GI Wire(12 Gauge) | 34,400 | -450 | ||
| HB Wire(12 Gauge) | 30,400 | -100 | ||
| Wire Rod(5.5 MM), commercial | 28,400 | -100 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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