RINL & SAIL, the primary steel producers have raised Wire Rod prices by 2-3% for this month (Mar’14), while secondary Wire Rod prices declined by 3% M-o-M.
RINL has an installed capacity of 0.85 MnT pa of Wire Rod. The company increased Wire Rod prices by INR 1,000/MT for March; RINL has been increasing Wire Rod offers from beginning of this year and this is the 3rd time, it increased their offers.
Following the suit, SAIL has also rose Wire Rod prices by INR 1,000/MT owing to low inventory. The company offered 5.5 mm Wire Rod from Bhilai Steel Plant (BSP) at around INR 43,800/MT (Ex-Chandigarh; price inclusive of ED) and at INR 40,600/MT (Ex-Raipur; price inclusive of ED).
“Punjab, Himachal Pradesh and including few other NCR regions are major consumers of Wire Rod; Raipur & Durgapur are the major suppliers. Many manufacturers of NCR region utilizes Wire Rod as raw material for manufacturing of finished products like barbed wire, nails, screw, bolts etc”, said a Wire Rod dealer based at Chandigarh.
Wire Rod offers in secondary market decreased by INR 1,000/MT in Durgapur M-o-M; whereas in Raipur it declined by INR 400/MT. 5.5 mm Wire Rod offered at INR 34,500/MT in Durgapur and at INR 34,900/MT in Raipur (Basic prices).
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