India: Wire Rod Offers increased in Durgapur, Raipur remain same

In Durgapur, Wire Rod manufacturers have increased their offers by INR 200/MT from yesterday’s trade as Billet prices increased by INR 100/MT. There was good buying for Billet from other states like Mandigobindgarh.

SAIL is offering 5.5mm Wire Rod at around INR 38,000/MT in Durgapur, whereas local prices are higher by INR 200/MT. This is due to hike in billet prices. Billet is trading at around INR 28,800/MT. Local Wire Rod is trading at around INR 38,200/MT, 12 Gauge HB Wire is at around INR 40,600/MT in Durgapur.

“Yesterday Wires prices were lower by INR 100/MT from previous trade because of low buying interest. But a hike in Billet prices at Durgapur made manufacturers, to increase their offers”, said a Wires trader based at Durgapur.

Meanwhile, Raipur Wire Rod prices are stable irrespective of increase in Billet prices. Wire manufacturers have made up their mind not to change Wire prices with such price fluctuation. They have been keeping same prices from last one week.

According to a Wire Rod manufacturer based at Raipur, “Demand is coming from local and other states like Andhra, Maharashtra, Gujarat and Delhi but, not on a regular basis. So we are keeping prices unmoved. 5.5mm Wire Rod is now traded at Rs 39,400/MT levels and 12Gauge HB Wire is at around Rs 41,500/MT.”

Note: All Prices are Inclusive of VAT.

Indian Wire prices (in INR/MT) as on date 17-Dec-2013

Daily Assessment
Excise Duty @ 12.36% ;VAT as applicable
# Prices including all taxes