Amid average demand, wire manufacturers in Raipur as well as Durgapur have kept their prices unchanged. Offers for imported wire rod have declined.
Wire market in Raipur as well as Durgapur witnessed a one time decline of INR 200-300/MT W-o-W, otherwise remaining stable during the week. It was reported that demand seems to have picked up to some extent. Many plants in Raipur have cut down their production levels. Nearly all plants in Raipur are operating at 60-70% capacity due to shortage of labour. In Raipur, prices of 12G GI wire and 12 barbed wire are hovering in the range of INR 42,500-600/MT and INR 44800-45,000/MT respectively(prices including all).
Durgapur market is reported to have surplus inventory, and is the reason why prices went down there. As per sources, JSW is offering 5.5 mm wire rod at INR 34,000/MT (basic price) in Mumbai.
Wire Rod Imports
Sources revealed that imported wire rod offers have declined due to low demand and weak Chinese market. Wire rod 6.5 mm was offered at around USD 385/MT CFR Mumbai, for July shipment, origin China. Wire rod 5.5 mm is assessed at around USD 395-400/MT. Import duty 5% & CVD 12.5%, SAD extra.
Indian Billet & Wire Prices
| City | MS Billet | W-o-W Change | 5.5 mm Rod | W-o-W Change | 12G HB Wire | W-o-W Change | 20G Binding Wire | W-o-W Change |
| Raipur | 25,400 | -300 | 29,600 | -200 | 31,400 | -200 | 36,300 | -200 |
| Durgapur | 25,400 | +300 | 29,000 | -300 | 31,400 | -300 | 38,100 | -200 |
Basic Prices in INR/MT as on 9 June’15 ED and VAT/CST extra
Source: SteelMint Research
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