In line with the increase in billet prices, wire rod prices also rise
Indian wire rod manufacturers based in Raipur and Durgapur have significantly increased their offers in the last one week by INR 500-1,200/MT owing to sudden rise in billet prices in the same duration.
In addition, wire rod and HB manufacturers based in Raipur had also offered trade discount of INR 500-1,000/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 25,400/MT and INR 26,600/MT respectively. Plants in Raipur are offering the same grade material at INR 27,300/MT and INR 29,300/MT respectively. Prices are basic.
Offers for 12G GI and 12G barbed wires are assessed at INR 33,400/MT(+1,000) and INR 34,700/MT(+1,000) in Raipur W-o-W. All prices are basic.
State owned Steel Authority of India Limited (SAIL) has also increased wire rod prices by INR 1,000-1,200/MT in the beginning of the current month.
Current offers stood at around INR 33,000/MT(including excise duty, CST & freight) FoR Punjab.
Indian billet and wire prices as on 26 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 | 22,750 | +1,100 | 27,300 | +1,200 | 29,300 | +1,200 | 34,000 | +1,500 |
| Durgapur | 22,150 | +700 | 25,400 | +500 | 26,600 | +800 | 34,000 | +1,000 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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