Indian mid sized & large scale Wire rod industry remained under pressure in Apr’19 as prices continued to drop, this resulted in curtailment of production, as per recent data released by Joint Plant Committee(JPC).
SteelMint learned that, total wire rod (non-alloy) production in India fell by 15% M-o-M in Apr’19. Production through the large scale mills declined by 9.17% & by mid sized mills 23.52% and recorded at 198,000 MT & 119,000 MT, respectively, M-o-M in Apr’19.
In context to price range, the mid sized mills have reduced prices during Mar-Apr’19 by 3-4% (INR 1,000-1,500/MT), this seems to one of the key factors behind narrowing down of wire rod production in India.
In total Wire rod productions in India, large mills accounts close 60% and remaining produced by mid/small sized mills which are majorly based in Central & Eastern regions in India.
In large scale mills, the major productions recorded by RINL (Vizag Steel) at 53,000 MT; down by 8.62%, followed by Tata Steel & JSW Steel 47,000 MT each; fell by 9.61% & 2% respectively, JSPL at 34,000 MT; slump 8.10% & SAIL (Steel Authoriry of India Ltd) at 17,000 MT; drop by 26% M-o-M in Apr’19.
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