Indian wire rod manufacturers based in Raipur and Durgapur has increased offers by INR 2,400/MT and INR 2,200/MT during the month of Dec’16 in line with the rise in billet prices.
Currently in Durgapur, 5.5 mm wire rod and HB 12G are available at INR 27,800/MT and 29,800/MT respectively. Plants in Raipur are offering the same grade material at INR 29,400/MT and 31,400/MT respectively. These prices are basic.
Offers for 12 GI and 12G barbed wires are assessed at INR 43,000/MT and 45,000/MT in Raipur W-o-W. All prices are inclusive 2% CST paid.
A well known GI manufacturer based in Raipur stated that, “We are bound to increase GI prices with the same quantum of wire rod & HB prices in the last few weeks but no major deal is taking place at high rates”.
Indian billet and wire prices as on 2 Jan’16
| City | MS Billet | M-o-M | 5.5 mm Wire Rod | M-o-M | Monthly Average wire rod prices (Dec’16) | Monthly Average wire rod prices (Nov’16) | % Change |
| Raipur | 25,200 | +2,900 | 29,400 | +2,400 | 27,750 | 27,000 | +3% |
| Durgapur | 22,000 | +2,800 | 27,800 | +2,200 | 26,500 | 25,200 | +5% |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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