Wire Rod prices surge in both Raipur and Durgapur but demand not supporting.
Indian secondary wire rod market mainly based in Raipur and Durgapur has increased offers by INR 200-400/MT W-o-W.
On the demand side, few market participants strongly reported that trade activities remained dull across wire industry which is impacting the wire rod and HB material.
Currently in Durgapur, 5.5 mm wire rod and HB 12G are available at INR 25,500/MT and 27,700/MT respectively. Plants in Raipur are offering the same grade material at INR 27,000/MT and 29,000/MT respectively. These prices are basic.
As per our sources, almost all wire rod and HB manufacturers in Raipur are offering discount of about INR 800/MT during last week.
Offers for 12G GI and 12G barbed wires are assessed at INR 40,500/MT and INR 42,500/MT in Raipur. All prices are inclusive 2% CST paid.
Indian billet and wire prices as on 05 Dec’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 | 22,300 | -100 | 27,000 | +200 | 29,000 | +200 | 34,000 | +1,000 |
| Durgapur | 22,200 | +300 | 25,600 | +400 | 27,800 | +400 | 35,000 | +400 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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