Wire rod prices firm during week 32 in both Raipur and Durgapur market.
In week 32, low trade activities continue in the Indian wire market as no major buying was noticed from outstation market.
The major reason behind sluggish market is heavy rainfall across India, which affected sales of all wire products.
In Durgapur, wire rod 5.5 mm and HB 12G are available at INR 22,900/MT and INR 24,200/MT respectively. Plants in Raipur are offering the same grade material at INR 24,900/MT and INR 26,900/MT respectively. Prices are basic.
In addition, in order to push sales, almost all wire rod manufacturers mainly based in Raipur had also offered discount of INR 800/MT, depending on the quantity of material lifting, as per market sources.
Offers for 12G GI and 12G barbed wires are assessed at INR 32,700/MT (-300) and INR 34,400/MT (-300) in Raipur. All prices are basic.
Primary market
A large wire rod producer in south India is offering 5.5 mm material at INR 30,100/MT (freight included, excise duty and other taxes extra).
Indian billet and wire prices as on 8 Aug’16
| City | MS Billet | W-o-W | 5.5 mm Wire Rod | W-o-W | 12G HB Wire | W-o-W | 20G Binding Wire | W-o-W |
| Raipur | 20,000 | -100 | 24,900 | -200 | 26,900 | -200 | 29,800 | -100 |
| Durgapur | 19,500 | -200 | 22,900 | +500 | 24,200 | +100 | 31,400 | 0 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
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