Wire rod producers based in Raipur – Central India & in Durgapur – East India have decreased their prices by INR 1,000-1,200/MT in a week duration. The prices fall on account of declining Billet prices and coupled with demand & logistic concern.
Currently in Durgapur, 5.5 mm Wire rod and HB 12G are available at INR 35,200-35,500/MT and INR 37,200-37,500/MT, respectively. The manufacturers in Raipur are offering same grade material at INR 36,400/MT and INR 38,400/MT respectively. The prices are ex-plant & excluding 18% GST.
In addition, almost all Wire rod and HB manufacturers in Raipur are offering trade discount in the range of INR 700-1,000/MT during ongoing week. Meanwhile re-sellers are offering discount in the range of INR 1,200-1,400/MT.
As per a Wire rod manufacturer in Raipur, “Due to ongoing transporters strike, we are restricted to supply the material out-stations and selling very limited quantity in local market too.
He also stated, rise of inventory levels, resulting selling pressure”.
Another wire rod manufacture based in Durgapur mentioned that demand of Wire rod is average than the rebars which buyers are silent presently. The deals for Wire rod are mainly reported for local as well as for NCR region.
In context to exports, the fresh export offer to Nepal by the manufacturer reported at around USD 505-510/MT ex-mill. As per him, export inquiries are limited due to monsoon and declining steel prices in Nepal.
Large Mill offers:
As per our sources, currently a large Mill in Bhilai, Central India is offering Wire rod (produced through blast furnace grade Billet) at around INR 42,000/MT for MS grade, Size – 5.5mm & excluding GST at 18%.
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