Offers for Wire Rod hiked by INR 200/MT on material shortage in Durgapur as well as prices of semi finish & Re-bar increased in Raipur.
In Durgapur prices moved up by INR 200/MT as compared to previous trade. 5.5 mm Wire Rod is at INR 33,800/MT and 12 Gauge HB Wire is at INR 35,850/MT.
A trader based in Durgapur said, “Wire Rod prices increased owing to material shortage in city. A few Wire Rod manufacturers such as Gagan Ferrotech and Adhunik Industries have increased manufacturing of TMT instead of Wire Rod in their existing rolling mills, as they are getting more margin profit on TMT.”
In Raipur, 5.5 mm Wire Rod is at INR 34,700/MT and 12 Gauge HB is at INR 36,600/MT which are higher by INR 200/MT. But, offers for other wire such as Binding, GI and Barbed are unchanged.
Earlier, Raipur Wire Rod manufactures used to add INR 1,800/MT as a conversion cost in Wire Rod for HB Wire. Now it is increased by INR 100/MT to INR 1,900/MT.
“Wire demand is subdued, but Wire Rod price has improved owing to increased price of semi finish and Re-bar,” said a manufacturer in Raipur.
Note: Basic price. ED, VAT/CST and loading extra.
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