Indian wire rod manufacturers mainly Raipur and Durgapur have decreased their offers in a week. Meanwhile, Chinese wire rod export offers too have fallen after continuous rally.
In a week’s time, Indian secondary wire rod manufacturers in both Raipur and Durgapur have decreased their offers as buyers seem less interested to take position owing to weak market sentiments.
In addition, few wire rod manufacturers based in Raipur have continued to offer discount in the range of INR 500-1,000/MT last week, depending on the quantity purchased and payment terms, reported few trade sources.
Wire rod and HB manufacturers in Raipur are offering the material at INR 27,600/MT and INR 29,600/MT (basic price) respectively. Similarly in Durgapur, wire rod and HB are available at INR 25,800/MT and INR 27,700/MT (basic price) respectively.
Offers for 12G GI wire and 12G barbed wire are assessed at INR 35,500/MT (-500) and INR 37,300/MT (-800) respectively in Raipur. Prices are basic.
A GI manufacturer based in Raipur said, ”Prices are likely to remain under pressure in the coming week for both GI and barbed wire on account of unsupportive demand.”
Indian billet and wire prices as on 9 May’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 | 22,100 | 0 | 27,600 | -400 | 29,600 | -400 | 34,700 | -1,000 |
| Durgapur | 22,500 | 0 | 25,800 | -600 | 27,700 | -600 | 34,600 | -600 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 19 (2-8 May’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 425 | -5 |
| CIS export (FoB Black Sea) | 488 | +10 |
| South East Asia (CFR) | 445 | 0 |
Prices in USD/MT
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
Leave a Reply