In a week’s time, secondary wire rod makers’ offers have jumped up by INR 1,100/MT in Raipur and INR 900/MT in Durgapur.
Indian wire rod market has witnessed some strength in past 1-week. Currently, wire rod and HB manufacturers in Raipur are offering material at INR 24,900/MT and INR 26,500/MT (basic price) respectively with a price hike of INR 1,100/MT W-o-W.
Similarly in Durgapur, wire rod and HB are being offered at INR 23,100/MT and INR 25,000/MT(basic price) respectively, with a price hike of INR 700/MT in a week’s time.
Buying has improved for all wire products and traders have also started to hold stock on anticipation of increase in prices as market seems to be positive.
Presently, 12G GI wire and 12G barbed wire are offered at INR 39,400/MT and INR 42,500/MT respectively (prices including all) in Raipur. Offers for both the grades have increased sharply by INR 1,500-2,000/MT W-o-W.
Indian billet and wire prices as on 14 Dec’15
|
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 | 20,450 | +800 | 24,900 | +1,100 | 26,500 | +1,100 | 30,500 | +1,700 |
| Durgapur | 20,000 | +200 | 23,100 | +700 | 25,000 | +900 | 31,200 | +800 |
Basic Prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 50 (7-13 Dec’15)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 257 | -5 |
| CIS export (FoB Black Sea) | 300 | 0 |
| South East Asia (CFR) | 275 | -5 |
Prices in USD/MT
Source: SteelMint Research
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