Indian secondary wire market mainly based in Raipur and Durgapur has seen no major price movement during last week.
Due to recent strong steps taken by the Union government on 8 Nov’16 on the demonetisation of INR 500 and INR 1000 notes led to trade activities remain halted.
Currently in Durgapur, 5.5 mm wire rod and HB 12G are available at INR 26,000/MT and INR 28,000/MT respectively. Plants in Raipur are offering the same grade material at INR 27,500/MT and INR 29,500/MT respectively. These prices are basic.
Offers for 12G GI and 12G barbed wires are assessed at INR 41,000/MT and INR 42,500/MT in Raipur W-o-W. All prices are inclusive of taxes.
A well known GI manufacturer based in Raipur reported that they are facing excessive liquidity shortage as they are yet to receive payment dues from the deal that took place last week with the buyers.
He also added may be it will take time two to three months to normalize.
Indian billet and wire prices as on 14 Nov’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 | 22,800 | +400 | 27,500 | 0 | 29,500 | 0 | 33,100 | +1,000 |
| Durgapur | 21,500 | -500 | 26,000 | +400 | 28,000 | +600 | 36,000 | +1,500 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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