In a week’s time, secondary wire rod makers have raised offers by INR 600/MT in Raipur and INR 800/MT in Durgapur.
Secondary wire rod manufacturers reported that demand continues to remain firm across Indian market since the starting of the current month.
Currently, wire rod and HB manufacturers in Raipur are offering the material at INR 26,700/MT and INR 28,300/MT (basic price) respectively, with a price hike of INR 600/MT W-o-W for both of the material.
Similarly in Durgapur, wire rod and HB are being offered at INR 25,600/MT and INR 27,400/MT(basic price) respectively, with a price hike of INR 800/MT and INR 1,400/MT respectively in the same period.
Presently, 12G GI wire and 12G barbed wire are being offered at INR 35,600/MT and INR 38,100/MT respectively (basic price) in Raipur. Offers for both the grades have increased by upto INR 1,000/MT W-o-W.
As per a GI and barbed manufacturer based in Raipur, “Presently, buying is quite better majorly from other states and it is likely to remain firm in the next month also.”
Indian billet and wire prices as on 28 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 | 22,400 | +400 | 26,700 | +600 | 28,300 | +600 | 31,800 | +700 |
| Durgapur | 21,750 | +550 | 25,600 | +800 | 27,400 | +1,400 | 33,300 | +1,400 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 52 (21-27 Dec’15)
| Region | Offers in USD/MT | W-o-W |
| China export (FoB main port) | 257-260 | 0 |
| CIS export (FoB Black Sea) | 290-292 | -2 |
| South East Asia (CFR) | 272-275 | 0 |
Prices in USD/MT
Source: SteelMint Research
Note: Prices are basic, excise duty and other taxes extra
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