Raipur based secondary wire rod makers raised offers slightly by INR 300/MT. While, prices in Durgapur remain unchanged in a week. Contrastingly, RINL has declined offers by INR 2,000/MT for Dec’15 deliveries.
Indian secondary wire rod manufacturers mainly based in Raipur and Durgapur are trying to hold offers on anticipation of better demand in coming months. Currently, wire rod and HB manufacturers in Raipur are offering at INR 23,800/MT and 12 G HB at INR 25,400/MT (basic price), which rose by INR 300/MT W-o-W. However in Durgapur, the same size material is being offered at INR 22,300/MT and INR 24,100/MT(basic price) respectively with no price movements in a week.
A primary steelmaker, RINL (Vizag Steel) has declined offers by INR 2,000/MT for Dec’15 owing to continuous sales pressure, which is due to competitive rates being provided by few primary players. Last month also, the company had declined offers by INR 1,000/MT.
As per sources, RINL is offering 7 mm wire rod at INR 28,250/MT (excise duty & freight included, VAT extra) for Punjab region. At the same time, state-owned company, SAIL is offering 5.5 mm at INR 30,000/MT(excise duty, CST & freight included) for the same region.
Indian billet and wire prices as on 7 Dec’15.
Indian billet and wire prices as on 7 Dec’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 | 19,800 | +800 | 23,800 | +700 | 25,400 | +300 | 28,800 | 0 |
| Durgapur | 19,800 | +800 | 22,300 | 0 | 24,100 | +100 | 30,400 | -500 |
Basic Prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices as on 7 Dec’15
|
Region |
USD/MT |
W-o-W |
| China export (FoB main port) | 262 | -8 |
| CIS export (FoB Black Sea) | 300 | 0 |
| South East Asia (CFR) | 280 | 0 |
Prices in USD/MT
Source: SteelMint Research
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