Indian Wire Rod prices have amplified by 9% in Raipur and 14% in Durgapur in last 6-month. Durgapur Wire Rod prices have outstripped Raipur prices.
This is the cherish time for Indian Wire manufacturers as Wire prices are increasing continuously from last 5-6 months. The prices grew up by INR 3,000/MT & INR 4,400/MT in Raipur & Durgapur respectively. Price hike is mainly due to material shortage, growing finish long demand & boom in Ingot/Billet prices.
Wire prices started to increase from Dec’13 but got the support from the beginning of this year (2014) as primary producers have also initiated to move up their offers in Jan’14.
RINL, a primary steel producer, has increased its 8 mm Wire Rod prices by INR 850/MT in last 6-month. However, prices declined by INR 1,000/MT for the current month (Apr’14).
Earlier, Raipur Wire Rod offers were INR 800-1,000/MT higher than Durgapur prices, but material shortage in Durgapur has started to cover the gap and made the level approximately same in Feb’14 & Mar’14.
In Apr’14, Durgapur Wire Rod prices have outstripped Raipur offers on account of boom in Semi finish& finish long market. Despite of this, Delhi buyers are not much interested to purchase from Raipur. Extra freight charges of INR 700-800/MT and time taking distance from Raipur have made Delhi buyers to purchase the material from Durgapur.
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