Secondary wire rod prices fell by INR 300/MT W-o-W in major markets. Trading activities remained limited due to Diwali.
Wire rod manufacturers in Raipur and Durgapur are offering 5.5 mm wire rod at INR 24,000/MT and INR 23,100/MT respectively (basic price). MS billet prices fell by INR 350-400/MT W-o-W in both the cities.
It is being heard that there is a problem of labour shortage in some mills in Raipur due to which the mills have not started operating yet. Shortage of material in the market may lead to increase in prices within a week. But it would be interesting to note whether the market would absorb the rise in prices since current demand is of average nature.
Currently, 12G GI wire and 12G barbed wire are being offered at INR 35,800/MT and INR 38,300/MT respectively (prices including all) in Raipur.
Imported wire rod offers
Offers for imported Chinese wire rod weakened nearly by USD 2/MT and at present 6.5 mm mesh quality wire rod is being offered at USD 271/MT, FoB China main port.
Indian Billet and 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 | 20,100 | -350 | 24,000 | -300 | 25,600 | -300 | 28,800 | -100 |
| Durgapur | 20,100 | -400 | 23,100 | -300 | 24,900 | -300 | 31,600 | 0 |
Basic prices in INR/MT as on 16 Nov’15; ED and VAT/CST extra
Source: SteelMint Research
Global Wire Rod Prices
| Region | Prices | W-o-W Change |
| China export (FOB main port) | 271 | -2 |
| CIS export (FOB Black Sea) | 308 | -10 |
| South East Asia (CFR) | 286 | -2 |
Prices in USD/MT as on 16 Nov’15
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