In a week’s time, secondary wire rod makers have declined offers by INR 1,300/MT in Raipur and INR 1,000/MT in Durgapur. While, Chinese wire rod offers rose by USD 5/MT.
After witnessing sharp increase of INR 3,000-4,000/MT in wire rod offers during Dec’15, market has again slowdown amid muted buying from downstream users like GI and binding wire makers.
Currently, wire rod and HB manufacturers in Raipur are offering the material at INR 26,100/MT and INR 27,700/MT (basic price) respectively. Offers fell by INR 1,300/MT W-o-W for both of the material.
Similarly in Durgapur, wire rod and HB are offered at INR 25,500/MT and INR 27,300/MT(basic price) respectively. Prices fell by INR 1,000/MT W-o-W for both the material.
12G GI wire and 12G barbed wire are offered at INR 35,000/MT and INR 37,200/MT respectively (basic price) in Raipur. Offers for both the grades have decreased by INR 1,500-1,800/MT W-o-W.
Indian billet and wire prices as on 11 Jan’16
|
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 | 21,250 | -1,900 | 26,100 | -1,300 | 27,700 | -1,300 | 31,300 | -1,300 |
| Durgapur | 21,100 | -1,450 | 25,500 | -1,000 | 27,300 | -1,000 | 33,300 | -1,000 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 2 (4-10 Jan’16)
| Region | Offers in USD/MT | W-o-W |
| China export (FoB main port) | 277-282 | +5 |
| CIS export (FoB Black Sea) | 290 | 0 |
| South East Asia (CFR) | 280-285 | +8 |
Prices in USD/MT
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
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