Secondary Wire Rod manufacturers in Raipur increased offers by INR 1000/MT and Durgapur by INR 600 W-o-W, RINL kept offers unchanged for Apr’15.
Owing to increase in Billet prices by INR 800-1,250/MT since the starting of this month, Secondary Wire Rod manufacturers in Durgapur and Raipur increased offers by INR 600-1000/MT
Although, it seems that the market is not likely to absorb the increased prices since buyers at current offers are very limited.
According to sources, RINL (Vizag Steel) has kept prices unchanged for Apr’15 for Wire Rod. Sources also added that currently few Primary Wire Rod producers are offering at around INR 37,000-38,000/MT FoR in the northern region.
As per a GI manufacturer at Raipur, sales of finished Wire product is still poor and only 25% of the total production of the material is sold and that too in the local area, not outside.
Wire Rod Imports
An importer based in Mumbai stated, “Imported Wire Rod of 5.5 mm is being offered at around USD 440/MT and 6.5 mm around USD 420/MT CFR Mumbai, 5% import duty, CVD & SAD extra.” But importers are unwilling to purchase the material owing to change being expected in duty structure.
Indian Wire & Billet prices
| City | MS Billet | W-o-W | 5.5mm Wire Rod | W-o-W | 12G HB Wire | W-o-W | 20G Binding Wire | W-o-w |
| Raipur | 27,700 | + 1200 | 31,000 | +1000 | 33,200 | + 1200 | 37,550 | + 750 |
| Durgapur | 28,100 | + 800 | 31,650 | + 550 | 34,000 | + 600 | 40,500 | + 400 |
Basic Prices in INR/MT as on 6 Apr,’16, ED and VAT/CST extra
Source: SteelMint Research
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