In Raipur and Durgapur Wire Rod prices have gone up by Rs 2,300-2,800/MT in last one week. Wire rod (5.5mm) has limited production and is mainly supplied all over India for making Binding Wire, HB Wire, Nails, Bolts and other machinery items. Industry demand for Wire Rod is good from past few days due to hike in semi finished and finished steel price all over India. Positive sentiments and high raw material prices have resulted in good demand for Wire Rod.
According to a Wire Rod manufacturer based in Raipur- “Demand for wire is good due to shortage and positive sentiment in the steel market. Whereas raw material prices and Re-bar market is going up creating an impact in the market.”
Presently in Raipur, 5.5 MM is traded at Rs 40,100/MT and in Durgapur the same is offered at Rs 38,200/MT. All Prices include VAT.
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