In a week, secondary wire rod makers have decreased their offers by INR 800/MT in Raipur and INR 400/MT in Durgapur.
Trading activities in the Indian secondary wire rod market were quite low last week. As a result, wire rod prices have fallen in both Raipur and Durgapur in-line with fall in billet prices.
After MIP imposition, wire rod prices surged by around INR 4,000/MT in both primary and secondary markets. Post MIP, primary producers didn’t rollback prices till now. But, secondary makers rolled back their offers partially as prices were not fully absorbed by the downstream industries.
Presently, wire rod and HB manufacturers in Raipur are offering the material at INR 27,700/MT and INR 29,500/MT (basic price) respectively. Prices for both the material have decreased by upto INR 800/MT W-o-W.
Similarly in Durgapur, wire rod and HB are offered at INR 26,600/MT and INR 28,400/MT (basic price) respectively. Prices have decreased by upto INR 400/MT W-o-W for both the material.
Meanwhile, 12G GI wire and 12G barbed wire are available at INR 34,700/MT and INR 36,400/MT respectively (basic price) in Raipur. Offers for both the grades fell by INR 400/MT W-o-W.
Indian billet and wire prices as on 21 Mar’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 | 22,200 | -900 | 27,700 | -800 | 29,500 | -800 | 33,900 | -800 |
| Durgapur | 22,050 | -200 | 26,400 | -400 | 28,400 | -500 | 35,700 | -700 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 12 (14-20 Mar’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 310-315 | +8 |
| CIS export (FoB Black Sea) | 345-350 | +58 |
| South East Asia (CFR) | 315-320 | +6 |
Prices in USD/MT
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
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