Wire market in week 27 continues to remain almost stable due to average demand and arrival of monsoon
Wire manufacturers based in Raipur kept prices stable throughout last week, except once when prices declined by INR 200/MT.
“Prices are likely to decline further in Raipur nearly after a week as soon as the problem related to shortage of labour and frequent power cuts resolves”, said a GI wire manufacturer based in Raipur.
12G GI wire and 12G barbed wire being offered at INR 43,800/MT and INR 46,500/MT respectively in Raipur. The finished wire segment i.e GI wire and barbed wire is getting good demand due to favourable season.
While market in Durgapur has witnessed no major fluctuation, demand seems to be on an average level and the onset of monsoon is likely to bring down the market there.
Primary Market
This week RINL slashed its wire rod prices by INR 500/MT for July’15. Reportedly,it is offering the material at INR 35,800/MT, FOR Chandigarh (prices including all, VAT extra).
Wire Rod Imports
Offers for imported wire rod have declined further due to weak Chinese market. Current offers for wire rods of 6.5 mm of chromium added material are prevailing at around USD 345-350/MT and for boron added material at USD 370-375/MT,CFR Mumbai for August deliveries, origin China.7.5% import duty & CVD 12.5% and SAD extra.
Indian Billet and Wire Prices
| City | MS Billet | W-o-W Change | 5.5 mm Wire Rod | W-o-W Change | 12G HB Wire | W-o-W Change | 20G Binding Wire | W-o-W Change |
| Raipur | 24,900 | -400 | 28,900 | -200 | 30,700 | -200 | 35,900 | +100 |
| Durgapur | 25,200 | +600 | 28,800 | 0 | 30,600 | -200 | 37,300 | -600 |
Basic Prices in INR/MT as on 7 July’15 ED and VAT/CST extra
Source: SteelMint Research
Global Wire Rod Prices
| Region | Wire Rod |
| US Import CIF | 491 |
| EU Import CIF | 487 |
| India Import CIF | 385 |
| China export FOB | 340 |
Prices as on June 26,2015
Unit: USD/tonne
Source:SteelMint Research
Leave a Reply