Indian wire rod offers in Raipur and Durgapur have marginally reduced by INR 100/MT and INR 400/MT respectively during the month of Oct’16.
Last month, Indian government has also indicated to impose anti-dumping duty on wire rod especially from China which helped to protect the prices to fall further.
Owing to festive season, demand for Binding wire, GI wire and barbed wire was not very encouraging during Oct’16
On 2 Nov’16, government imposed anti-dumping duty on wire rod especially from China for six months will certainly give relief for domestic wire rod manufacturers mainly based in Raipur and Durgapur.
Indian billet and wire prices as on 4 Nov’16
|
City |
MS Billet | M-o-M | 5.5 mm Wire Rod | M-o-M | Monthly Average
wire rod prices (Oct’16) |
Monthly Average
wire rod prices (Sep’16) |
% Change |
| Raipur | 22,300 | -200 | 27,500 | -100 | 26,900 | 26,200 | +3% |
| Durgapur | 22,000 | -200 | 25,600 | -400 | 25,200 | 24,500 | +3% |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Note: Prices are basic
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