Wire rod makers in Raipur are tussling with selling pressure and offering discount of INR 500-1,000/MT as per sources.
Indian secondary wire rod manufacturers based mainly in Raipur and Durgapur are continuously facing selling pressure owing to tepid demand from end-users.
Currently, wire rod manufacturers in Raipur are offering 5.5 mm at INR 23,600/MT (basic price). But few of them are offering discount of upto INR 1,000/MT in order to provide competitive offers against other markets.
In Durgapur, the same size material is available at INR 23,000/MT (basic price); witnessing a slight fall of INR 200/MT W-o-W.
GI and barbed wire offers are firm post diwali as production is still not on full swing owing to labour problems. Presently, 12G GI wire and 12G barbed wire offers are assessed at INR 30,400/MT and INR 32,600/MT (including all) respectively.
Indian billet and wire prices as on 24 Nov’15
| City | MS Billet | W-o-W | 5.5 mm
Wire Rod |
W-o-W | 12G
HB Wire |
W-o-W | 20G
Binding Wire |
W-o-W |
| Raipur | 19,400 | -600 | 23,600 | 0 | 25,200 | -200 | 29,200 | + 400 |
| Durgapur | 19,800 | -200 | 23,000 | – 200 | 24,700 | 0 | 31,200 | – 300 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices as on 24 Nov’15
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 270 | -1 |
| CIS export (FoB Black Sea) | 308 | 0 |
| South East Asia (CFR) | 280 | – 6 |
Prices in USD/MT
Source: Steelmint Research
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