Indian wire rod manufacturers based in Raipur has seen an increased offers by INR 700/MT in a week’s time in line with the rise in Billet prices. While in Durgapur there is a marginal price rise by INR 300/MT .
Currently in Durgapur, 5.5 mm wire rod and HB 12G are available at INR 26,300/MT and 28,300/MT respectively. Plants in Raipur are offering the same grade material at INR 27,700/MT and 29,700/MT respectively. These prices are basic.
Offers for 12G GI and 12G barbed wires are assessed at INR 40,500/MTand INR 42,500/MT in Raipur. All prices are inclusive 2% CST paid.
Justifying the price hike, a well know wire rod manufacturer reported that current price hike is majorly a cost push factor rather than demand. However, we still believe that market to remain positive in the coming days.
Also, almost all wire rod and HB manufacturers in Raipur are offering discount of about INR 1,000/MT during last week as per SteelMint sources.
A GI manufacturer also stated that, ”we are running our plant to almost 50% in order to maintain demand & supply. We also observe that sales of wire products are more in local rather than outstation”.
A large wire rod producer offers is at INR 36,000-36,500/MT for 6mm material landed price at Punjab.
Indian billet and wire prices as on 19 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 | 23,300 | +1,000 | 27,700 | +700 | 29,700 | +700 | 34,000 | +800 |
| Durgapur | 23,100 | +700 | 26,300 | +300 | 28,300 | +200 | 36,300 | +800 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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