Indian secondary wire rod manufacturers in Raipur and Durgapur have decreased their offers by INR 300-700/MT in a week’s time.
Indian secondary wire rod manufacturers mainly based in Raipur and Durgapur are facing selling pressure on account of low demand from downstream wire industry.
Contrastingly, billet prices have remained almost firm, with an uptick of INR 150-350/MT in the duration.
Wire rod and HB manufacturers in Raipur are offering the material at INR 27,000/MT and INR 29,000/MT (basic price) respectively; offers have fallen by INR 300/MT W-o-W.
Similarly in Durgapur, wire rod and HB are available at INR 25,100/MT and INR 26,800/MT (basic price) respectively; prices have corrected by INR 600/MT.
Offers for 12G GI wire and 12G barbed wires are assessed at INR 33,800/MT (-800) and INR 36,000/MT (-500) respectively in Raipur. Prices are basic.
A GI manufacturer based in Raipur said, ”Owing to low buying from end-users, manufacturers are facing cut-throat competition among themselves; in turn they are bound to decrease their offers”.
He also added that binding and GI wires are also now trading at almost similar rates. Earlier, there was a price gap of around INR 1,000-2,000/MT.
Indian billet and wire prices as on 21 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 | 21,550 | +150 | 27,000 | -300 | 29,000 | -300 | 33,900 | 0 |
| Durgapur | 21,650 | +350 | 25,100 | -600 | 26,800 | -700 | 34,500 | -100 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 21 (16-21 May’16)
| Region | Offers in USD/MT | W-o-W |
| China export (FoB main port) | 358 | +3 |
| CIS export (FoB Black Sea) | 488 | 0 |
| South East Asia (CFR) | 376 | -22 |
Prices in USD/MT
Source: SteelMint Research
Note : Prices are basic, excise duty & other taxes extra
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