Secondary wire rod makers in Raipur reduced their offers by INR 600/MT. While, prices in Durgapur are firm in a week’s time.
Indian secondary wire rod manufacturers based in Raipur reported slight improvement in demand during last week despite pressure on prices.
Indian wire rod prices in both Durgapur and Raipur are now trading at the same level of INR 25,200-26,400/MT, which were last seen in the mid of Feb’16. This in turn is attracting buyers (binding wire/GI wire makers) in domestic market.
Wire rod and HB manufacturers in Raipur are offering the material at INR 26,400/MT and INR 28,400/MT (basic price) respectively; offers have fallen by INR 600/MT W-o-W.
Similarly in Durgapur, wire rod and HB are available at INR 25,200/MT and INR 27,200/MT (basic price) respectively; prices have inched up by INR 100/MT.
Offers for 12G GI wire and 12G barbed wires are assessed at INR 33,300/MT (-500) and INR 35,100/MT (-900) respectively in Raipur. Prices are basic.
A GI manufacturer based in Raipur said, “Buying is inactive from the outstation, particularly during this season. This is also affecting prices in the market”.
He also added that discount on wire rod has also reduced from INR 1,000/MT to INR 500-600/MT last week”.
Indian billet and wire prices as on 28 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 | 21,250 | -300 | 26,400 | -600 | 28,400 | -600 | 33,200 | -700 |
| Durgapur | 21,350 | -300 | 25,200 | +100 | 27,100 | +100 | 34,000 | -300 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 22 (23-29 May’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 325 | -33 |
| CIS export (FoB Black Sea) | 435 | -53 |
| South East Asia (CFR) | 352 | -24 |
Prices in USD/MT
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
Leave a Reply