Demand for Wire Rod has
gone down because of a hike in excise duty of 2% announced in the Union Budget
2012-13. Wire Rod prices are showing a downward trend by Rs.
500/MT on account of weak buying in the market.
Buyers are reluctant
to enter markets as they are anticipating its prices to fall further by Rs. 300-500/MT
so that buying comes to the same level that was prior to the budget announcements.
Wire Rod 5.5 mm in
Raipur is being offered at Rs. 38,500/MT (Basic Price). Raipur trading price
for Binding Wire (20 Guage) is Rs.44,100/MT (Ex Works) and that of HB Wire (12
Guage) is Rs. 40,100/MT (Basic Price). Trading prices for Barbed Wire (12*12
Guage) and GI Wire (12 Guage) is quoted at Rs. 45,350/MT (Basic Prices) and Rs.
44,100/MT (Ex Works) respectively.
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