{"id":71068,"date":"2026-07-07T18:38:05","date_gmt":"2026-07-07T12:38:05","guid":{"rendered":"https:\/\/biztrend24.com\/?p=71068"},"modified":"2026-07-07T18:38:05","modified_gmt":"2026-07-07T12:38:05","slug":"india-steel-wire-rod-prices-soften-in-jun26-on-subdued-sales-momentum","status":"publish","type":"post","link":"https:\/\/biztrend24.com\/?p=71068&lang=en","title":{"rendered":"India: Steel wire rod prices soften in Jun&#8217;26 on subdued sales momentum"},"content":{"rendered":"<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Limited enquiries and slow sales activity weigh on wire rod prices<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Lower raw material costs and cautious buying keep sentiment muted<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>IF-route wire rod prices declined in June 2026 across key markets such as Raipur and Durgapur, primarily due to limited sales activity throughout the month. The downtrend was further influenced by the availability of raw materials at lower prices, which reduced the overall production cost of wire rod. As a result, Indian wire rod prices softened across both induction furnace (IF) and blast furnace (BF) route segments.<\/p>\n<p>On a monthly average basis, IF-route wire rod prices decreased by INR 1,150\/t ($12\/t) to INR 42,950\/t ($451\/t) exw-Raipur, and by INR 1,900\/t ($20\/t) to INR 41,300\/t ($433\/t) exw-Durgapur, compared to May 2026 levels.<\/p>\n<p>As of 6 July, the spot trade reference price stood at INR 42,500\/t ($446\/t) in Raipur and INR 41,100\/t ($431\/t) in Durgapur, on an exw basis.<\/p>\n<p>According to BigMints assessment, BF-route wire rod prices (5.56 mm, SAE1008) also declined m-o-m by INR 1,200\/t ($13\/t), averaging INR 59,800\/t ($628\/t) exw-Jharkhand in June.<\/p>\n<p>Meanwhile, cumulative wire rod production via IF and BF routes stood at 0.68 mnt in May, marking an increase of around 10% compared to 0.62 mnt during the same period in 2025, as per data maintained by Joint Plant Committee (JPC).<\/p>\n<p>Raw material price trend:\u00a0The domestic billet market witnessed mixed trends in June &#8211; persistently slow during the first half of June before recovering in the latter part of the month, with downside ranging between INR 250-1,300\/t m-o-m in all major locations in India.<\/p>\n<p>The sponge iron market remained under pressure throughout June, with prices declining by INR 100-1,100\/t m-o-m amid limited demand and cautious procurement by billet manufacturers.<\/p>\n<p>Considering the Raipur market as a benchmark, billet prices decreased INR 1,300\/t ($14\/t) to INR 38,800\/t ($407\/t) exw and sponge iron (PDRI FeM 80% +\/- 1) fell by INR 1,200\/t ($13\/t) to INR 24,200\/t ($254\/t) exw (prices are monthly average).<\/p>\n<p>IF-route wire rod demand remains limited:\u00a0Buying enquiries in the wire rod segment remained limited, with overall market activity continuing at a slow pace. Some mills reported a shortage of 5.5 mm wire rod and deliberately withheld material from the market in anticipation of a price recovery, aiming to improve conversion margins after the continuous decline in prices. Meanwhile, buyers resisted procuring at higher price levels and preferred to secure material only at lower rates.<\/p>\n<p>In contrast, the downstream segment performed relatively better, with products such as binding wire and GI wire witnessing improved sales, supported by steady end-user demand.<\/p>\n<p>However, the availability of wire rod from neighbouring markets at lower prices, around INR 42,000-42,100\/t delivered to Raipur from Odisha (Kamanda and Dhenkanal regions), continued to exert pressure on Raipur-based manufacturers. This forced them to reduce spot offers to remain competitive. Additionally, wire rod producers in Raipur and Durgapur extended trade discounts, depending on inventory levels, to accelerate stock liquidation and improve sales realisations.<\/p>\n<p>Primary mills see moderate sales:\u00a0The BF-based mills kept wire rod prices supported in the beginning of the month, while some mills started offering price support mid-month owing to weak market sentiments.<\/p>\n<p>Prices remained supported due to limited supply from the integrated steelmakers. Tight material availability in the market helped sustain prices despite average demand. Buyers remained cautious and continued with need-based procurement rather than aggressive stocking. Overall, market sentiment was stable to mildly positive, with supply-side constraints providing support to prices.<\/p>\n<p>As per BigMint&#8217;s assessment, wire rod prices dropped w-o-w by INR 700\/t to INR 59,000\/t exw-Jharkhand on 3 July.<\/p>\n<p>Outlook:<\/p>\n<p>Market participants anticipate wire rod prices to remain range-bound to slightly weak in July, as cautious buying behaviour and sufficient material availability continue to weigh on overall sentiment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Limited enquiries and slow sales activity weigh on wire rod prices Lower raw material costs&#8230;<\/p>\n","protected":false},"author":1,"featured_media":71069,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[313],"tags":[],"class_list":["post-71068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-iron-steel"],"jetpack_publicize_connections":[],"featured_image_urls":{"full":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?fit=1280%2C720&ssl=1?v=1783427876",1280,720,false],"thumbnail":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?resize=150%2C150&ssl=1?v=1783427876",150,150,true],"medium":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?fit=300%2C169&ssl=1?v=1783427876",300,169,true],"medium_large":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?fit=640%2C360&ssl=1?v=1783427876",640,360,true],"large":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?fit=640%2C360&ssl=1?v=1783427876",640,360,true],"1536x1536":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?fit=1280%2C720&ssl=1?v=1783427876",1280,720,true],"2048x2048":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?fit=1280%2C720&ssl=1?v=1783427876",1280,720,true],"covernews-slider-full":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?resize=1115%2C715&ssl=1?v=1783427876",1115,715,true],"covernews-slider-center":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?resize=800%2C500&ssl=1?v=1783427876",800,500,true],"covernews-featured":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?fit=1024%2C576&ssl=1?v=1783427876",1024,576,true],"covernews-medium":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?resize=540%2C340&ssl=1?v=1783427876",540,340,true],"covernews-medium-square":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-2026-07-07T183708.731.jpg?resize=400%2C250&ssl=1?v=1783427876",400,250,true]},"author_info":{"display_name":"Biz Trend 24","author_link":"https:\/\/biztrend24.com\/author\/online24"},"category_info":"<a href=\"https:\/\/biztrend24.com\/?cat=313&#038;lang=en\" rel=\"category\">Iron &amp; 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