Secondary wire rod manufacturers in both Raipur and Durgapur are facing selling pressure owing to sluggish demand. Meanwhile, Chinese wire rod offers fell slightly by USD 3/MT.
Indian secondary wire market is continued to remain under pressure in the 4th week of the month owing to sluggish demand from end-users.
Presently, wire rod offers in Raipur are quite competitive than Durgapur as various manufacturers are offering discount in the range of INR 1,000-1,500/MT.
Wire rod and HB manufacturers in Raipur are offering the material at INR 24,000/MT and INR 25,500/MT (basic price) respectively. Offers fell slightly by upto INR 2,000/MT W-o-W for both of the material.
Similarly in Durgapur, wire rod and HB are being offered at INR 24,300/MT and INR 26,200/MT (basic price) respectively. Prices fell by INR 700-900/MT W-o-W for both the material.
12G GI and 12G barbed wires are offered at INR 30,500/MT and INR 33,000/MT respectively (basic price) in Raipur. Offers for both the grades have fallen sharply by up to INR 2,000/MT W-o-W.
Indian billet and wire prices as on 23 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 | 20,550 | -950 | 24,000 | -1,900 | 25,500 | -1,900 | 29,200 | -1,600 |
| Durgapur | 20,400 | -350 | 24,300 | -700 | 26,200 | -700 | 32,300 | -700 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 4 (18-24 Jan’16)
| Region | Offers in USD/MT | W-o-W |
| China export (FoB main port) | 265-270 | -3 |
| CIS export (FoB Black Sea) | 283-287 | -5 |
| South East Asia (CFR) | 275-280 | -4 |
Prices in USD/MT
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
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