Indian wire rod prices increase in line with billet prices rise on W-o-W basis.
Indian wire rod manufacturers based in Raipur and Durgapur increased their offers in the last one week by INR 1,000/MT primarily due to increase in billet prices.
A well known wire rod manufacturer in Raipur told that the present rise in finished steel prices is because of the increase in prices of raw materials i.e coal, pig iron, iron ore. However, trade remains to be slow.
In addition, wire rod and HB manufacturers based in Raipur offered trade discount of INR 500/MT last week, depending on the quantity of material lifting.
Currently in Durgapur, 5.5 mm wire rod and HB 12G are available at INR 24,900/MT and INR 26,600/MT respectively. Plants in Raipur are offering the same grade material at INR 26,100/MT and INR 28,100/MT respectively. Prices are basic.
Offers for 12G GI and 12G barbed wires are assessed at INR 32,000/MT(+500) and INR 33,500/MT(+500) in Raipur W-o-W. All prices are basic.
State owned Steel Authority of India Limited (SAIL) also increased wire rod prices by INR 1,000-1,200/MT last week. Current offers stood at around INR 33,000/MT(including excise duty, CST & freight) FoR Punjab.
Indian billet and wire prices as on 19 Sep’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 | 21,600 | +1,000 | 26,100 | +1,100 | 28,100 | +1,100 | 30,500 | +800 |
| Durgapur | 21,400 | +1,000 | 24,900 | +800 | 26,600 | +800 | 32,500 | +400 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Note: Prices are basic
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