Wire Rod prices sharply surge in week 52 owing to rise in billet prices.
Indian wire rod producers based in Raipur and Durgapur have increased offers by INR 2,000-2,300/MT W-o-W on account of rise in billet price.
Currently in Durgapur, 5.5 mm wire rod and HB 12G are available at INR 28,000/MT and INR 30,000/MT respectively. Plants in Raipur are offering the same grade material at INR 29,300/MT and 31,300/MT respectively. These prices are basic.
As per the market participants, most of trade took place when the prices increased in the beginning by INR 1,500/MT but no major buying took place later as buyers are less interested to take position at high rates.
As per our sources, almost all wire rod and HB manufacturers in Raipur are offering discount of about INR 1,000/MT during last week.
Offers for 12G GI and 12G barbed wires are assessed at INR 43,000/MT and 45,000/MT in Raipur. All prices are inclusive 2% CST paid.
A well know GI manufacturer reported that, ”During previous week sales of GI wire and barbed wire is largely taking place within the state than outstation market”.
Indian billet and wire prices as on 26 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 | 24,700 | +2,100 | 29,300 | +2,300 | 31,300 | +2,300 | 35,300 | +2,000 |
| Durgapur | 24,500 | +2,000 | 28,000 | +2,000 | 30,000 | +2,000 | 37,500 | +2,000 |
Basic prices in INR/MT; ED and VAT/CST extra
Source:SteelMint Research
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