As per our trade sources, state owned Steel Authority of India Limited (SAIL) has increased wire rod offers by INR 1,000/MT in north and south India by INR 1,200/MT in the beginning of current week for Sep’16.
A well-known dealer based in North India shared that SAIL has increased wire rod offers by INR 1,000/MT w.e.f 14 Sep’16. Current offers for 6mm material are closed to INR 33,000/MT landed price in Punjab.
While wire rod manufacturers based in Raipur and Durgapur offers at INR 26,000/MT and INR 25,000/MT (basic price, excise duty & other taxes extra) for 5.5 mm material.
As per the Steel Ministry monthly data report, total production of Wire rod by Steel Authority of India stood at about 1,11,000 MT duing Apr-July’16 which is slightly down by 4% compared to same period last year.
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