Domestic wire rod offers fell by INR 300/MT in Raipur and INR 1,200/MT in Durgapur in a week’s time.
Domestic secondary wire manufacturers have been dealing with weak demand and paucity of orders since last 2-3 months. Current offers for 5.5 mm wire rod are assessed at INR 23,300/MT in Raipur and INR 21,800/MT(basic price) in Durgapur.
Moreover, 12G GI wire and 12G barbed wire are being offered at INR 30,900/MT and INR 33,500/MT (including all) in Raipur and Durgapur respectively.
Bearish sentiments are likely to prevail in domestic wire rod market and probability of improvement is seems to be improbable in near future owing to continuous fall in raw material and semi finish prices.
Indian billet and wire prices as on 1 Dec ’15
|
City |
MS Billet | W-o-W | 5.5 mm
Wire |
W-o-W | 12G
HB Wire |
W-o-W | 20G
Binding |
W-o-W |
| Raipur | 19,000 | -550 | 23,300 | -300 | 24,900 | -300 | 28,800 | -400 |
| Durgapur | 19,000 | -950 | 21,800 | -1,100 | 23,500 | -1,100 | 30,000 | -1,200 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 48 (23-29 Nov’15)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 270 | 0 |
| CIS export (FoB Black Sea) | 300 | -8 |
Prices in USD/MT
Source: Steelmint Research
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