Wire rod offers have gradually declined in Raipur by INR 300/MT. While the offers in Durgapur have witnessed slight increase of INR 250/MT.
Secondary wire rod market in Raipur had seen some development earlier this month owing to good buying sentiments from end users & improved billet prices. But the demand was not supportive enough to keep up the positive sentiments in the market, and as a result the prices of billet & wire rod have slumped down last week.
As per a trader in Durgapur, “We are witnessing average demand here but previously we were facing shortage of material owing to production cut in many plants.” He further added that prices are expected to fall in the next 4-5 days as some manufacturers have started wire rod production in Durgapur.
A GI manufacturer from Raipur reported, ”As a result of power cut in plants and improved demand, the prices were high. But in the last one week, demand had been very dull, also, the market is expected to remain weak in the coming days.” Currently, 12G GI Wire & 12G Barbed Wire offers are hovering at INR 38,000/MT & INR 39,800/MT respectively.(Basic Prices;ED and VAT/CST extra)
Wire Rod Import
An importer based in Mumbai stated, “Imported wire rod of 5.5 mm is being offered at around USD 425/MT and 6.5 mm is around USD 415/MT CFR Mumbai, 5% import duty, CVD & SAD extra. The offers have reduced owing to low demand and also the import has also reduced.”
Indian Billet & Wire Prices
| City | MS Billet | W-o-W Change | 5.5 mm Wire Rod | W-o-W Change | 12G HB Wire | W-o-W Change | 20G Binding Wire | W-o-W Change |
| Raipur | 27,000 | -650 | 30,700 | -300 | 32,700 | -500 | 37,600 | +50 |
| Durgapur | 27,600 | -500 | 31,900 | +250 | 34,200 | +200 | 40,500 | 0 |
Basic Prices in INR/MT as on 13 April’15, ED and VAT/CST extra
Source: SteelMint Research
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