Owing to festive season last week, trade activities were slow in wire rod; led to decline in prices by INR 200/MT in Raipur and INR 500/MT in Durgapur. Meanwhile, Chinese wire rod offers also fell by USD 10/MT.
Owing to festive season last week in major states, trade activities were very slow in Indian secondary wire market. As a result, prices were also under pressure for the entire wire steel products.
Currently, wire rod and HB manufacturers in Raipur are offering the material at INR 25,900/MT and INR 27,500/MT (basic price) respectively. Offers fell slightly by INR 200/MT W-o-W for both of the material.
As per market sources, few secondary wire rod makers were also offering discount in the range of INR 500-700/MT last week.
Similarly in Durgapur, wire rod and HB are being offered at INR 25,000/MT and INR 26,900/MT (basic price) respectively. Prices fell by INR 500/MT W-o-W for both the material.
12G GI wire and 12G barbed wire are offered at INR 32,300/MT and INR 34,700/MT respectively (basic price) in Raipur. Offers for both the grades have fallen sharply by INR 2,500-2,700/MT W-o-W.
As per a large GI and barbed manufacturer based in Raipur, “Buying was very slow in the past week owing to festival season majorly from out station like west and south India. Hopefully, demand may improve in the current week.”
Indian billet and wire prices as on 18 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 | 21,450 | +200 | 25,900 | -200 | 27,500 | -200 | 30,800 | -500 |
| Durgapur | 21,000 | -150 | 25,000 | -500 | 26,900 | -400 | 33,000 | -500 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 3 (11-17 Jan’16)
| Region | Offers in USD/MT | W-o-W |
| China export (FoB main port) | 265-275 | -10 |
| CIS export (FoB Black Sea) | 290 | 0 |
| South East Asia (CFR) | 280-285 | 0 |
Prices in USD/MT
Source: SteelMint Research
Note : Prices are basic, excise duty & other taxes extra
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