Indian Wire Rod Prices show mixed Response

Wire rod prices in Raipur have fallen by upto INR 800/MT in the last 2-3 days. However, offers in Durgapur raised by INR 500/MT W-o-W.

Imported Wire rod especially from China is continuously impacting the domestic market. It is mostly viable nearby coastal regions like Mumbai and Chennai.

Importer based in Bangalore said, “Imported Wire rod from China is of better quality as compared to domestic and currently it is being offered at Chennai port in the range of around USD 462-472/MT CIF (equivalent to INR 29,300); other expenses like port handling, all taxes and freight extra.”

5.5 mm Wire rod offers have fallen in Raipur by upto INR 800/MT in the last 2-3 days and being offered at INR 38,500/MT. However in Durgapur, it is offered at INR 39,100/MT; up by upto INR 500/MT W-o-W.

A Wire rod trader in Raipur said that manufacturers are offering the material by reducing prices rather than giving any discount. Price gap between 12G GI Wire and 12G Barbed Wire widen to INR 2,000-2,500/MT owing to shortage of material in the market. In last month, it was in the range of INR 1,500-2,000/MT. Currently, 12G GI Wire in Raipur is being offered at INR 47,200/MT and 12G Barbed Wire at INR 49,500/MT (inclusive of all taxes).

According to GI and Barbed manufacturer based in Raipur, “Demand seems to be moderate currently coupled with shortage of Barbed Wire, which in turn supporting the prices.”

20 G Binding Wire trading in Raipur & Durgapur at INR 46,000/MT and INR 49,500/MT respectively (inclusive of all taxes).

Weekly Price Change of Billet & Wire Rod (5.5 mm)

Basic prices in INR/MT as on 28 Nov’14
Excise and VAT extra