India Steel Market Watch
November 3: Wire rod prices have fallen 26-27% in the last one year owing to depressed market conditions prevailing in the long products market, an analysis of historical data of ISMW showed.
Prices of 5.5-mm wire rods in Durgapur declined by around Rs 8,850 per ton or 26.3% to Rs 24,800 per ton, while prices in Raipur declined by Rs 9,500 per ton or 27.5% to Rs 25,000 per ton.
Lack of implementation of large-scale construction projects led to the fall of wire rod prices during the last one year’s time, sources said.