In a month’s time, secondary wire rod makers have raised offers by INR 3,600/MT in Raipur and INR 4,100/MT in Durgapur. Meanwhile, Chinese wire rod offers also rose by USD 13/MT.
Indian secondary wire rod manufacturers reported that demand is quite firm from end-users like GI and Binding wire during the month of Dec’15.
Another important reason that Indian wire market moves upward last month is government’s plan to introduce minimum import price on certain steel products in order to protect domestic industry.
Currently, wire rod and HB manufacturers in Raipur are offering the material at INR 27,400/MT and INR 29,000/MT (basic price) respectively, with a price hike of INR 3,600/MT M-o-M for both of the material.
Similarly in Durgapur, wire rod and HB are offered at INR 26,500/MT and INR 28,400/MT(basic price) respectively, with a price hike of INR 4,100/MT M-o-M for both the material.
Presently, 12G GI wire and 12G barbed wire are offered at INR 36,200/MT and INR 38,500/MT respectively (basic price) in Raipur. Offers for both the grades have increased sharply by upto INR 4,500/MT M-o-M.
Indian billet and wire prices as on 4 Jan’16
|
City |
MS Billet | M-o-M | 5.5 mm Wire Rod | M-o-M | 12G HB Wire | M-o-M | 20G Binding Wire |
M-o-M |
| Raipur | 23,100 | +3,500 | 27,400 | +3,600 | 29,000 | +3,600 | 32,600 | +3,800 |
| Durgapur | 22,500 | +3,000 | 26,500 | +4,100 | 28,400 | +4,200 | 34,300 | +4,000 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
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