Subdued demand and increasing prices of MS billet kept wire rod market volatile in week 37
Wire rod makers in Raipur are offering 5.5 mm material at INR 28,000/MT with no change in a week’s time. However, wire rod in Durgapur is being offered at INR 27,300/MT, up by INR 200/MT W-o-W (basic prices). The prices concurrently increased and decreased for wire rod in both the cities by INR 200-400/MT. However, MS billet prices went up by INR 700-900/MT W-o-W.
In the current market scenario, it is being anticipated that due to less trade activity and slack demand prices will continue to be under pressure in the forthcoming weeks.
In the finished wire segment also the sentiments remained bearish. In Raipur, 12G GI wire and 12G barbed wire are being offered at INR 40,500/MT(-400) and INR 42,500/MT(-800) (prices including all) respectively.
Imported wire rod offers: Sources revealed that 6.5 mm mesh quality wire rod of Chinese origin is being offered at USD 298/MT FOB China main port. Offers have declined by USD 4/MT in a week’s time.
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 | 24,400 | + 900 | 28,000 | 0 | 29,900 | 0 | 33,100 | + 100 |
| Durgapur | 24,700 | + 700 | 27,300 | + 200 | 29,000 | + 200 | 35,500 | – 100 |
Basic Prices in INR/MT as on 14 Sep’15; ED and VAT/CST extra
Source: SteelMint Research
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