Secondary wire rod manufacturers in Raipur reduced offers by INR 400/MT W-o-W, but remained stable in Durgapur.
Secondary wire rod manufacturers based in Raipur have decreased offers during the last one week by INR 400/MT as buying seems weaken from the downstream industry like binding wire, GI wire etc.
In addition, almost all the wire rod manufacturers had also offered discount in the range of INR 800-1,000/MT during previous week, depending on the quantity of material lifting, as per our sources.
On the other side, there has been no major price movement seen in the Duragpur wire market in the same duration.
In Durgapur, wire rod and HB are available at INR 23,400/MT and INR 25,100/MT respectively.
Similarly, plants in Raipur are offering the same grade material at respective price of INR 24,800/MT and INR 26,800/MT.
Offers for 12G GI and 12G barbed wires are assessed at INR 34,500/MT (-300) and INR 37,000/MT (-300) in Raipur. All prices are basic.
Indian billet and wire prices as on 18 Jul’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 | 19700 | -550 | 24,800 | -400 | 26,800 | -400 | 33,300 | 0 |
| Durgapur | 19,900 | -450 | 23,400 | 0 | 25,100 | 0 | 33,500 | 0 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
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