Indian Wire rod manufacturers maintained their offers constant today and find clarity in market only after Holi.
Wire rod prices in Raipur & Durgapur remain unchanged for the day. Yesterday (Thursday), the prices had increased by INR 200/MT in both cities.
A native Wire rod trader of Durgapur said, “Demand is good in Durgapur as we are receiving inquiries from local and nearby states. We also have sufficient demand from Delhi & Chennai this time. Durgapur Wire rod prices are high at present.”
Generally, Durgapur Wire rod prices are lower by around INR 800-1,000/MT than Raipur. But, presently Durgapur Wire rod prices are higher from Raipur on CST rates. Despite of this, Delhi buyers are not much interested to purchase from Raipur. Extra freight charges of INR 700-800/MT and time taking distance from Raipur made Delhi buyers to purchase the material from Durgapur. Offers for 5.5 mm Wire rod is stood at INR 40,000/MT on CST, he stated further.
A Wire rod manufacturer based in Raipur said, “Demand is below average in the city. On Wednesday, we had good demand but after price fall in Ingot/Billet, demand again stopped as its rates are fully based on raw material prices.”
On account of Holi, there will be labour shortage which will also affect the production & market. Market will be clear after Holi, he added further.
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