Indian wire rod offers continue to remain firm. Bulk discount was being offered by Raipur based manufacturers in week 34.
Indian wire rod manufacturers based in Raipur and Durgapur have kept their offers firm during a week. However, demand continues to remain inactive from the downstream industry like binding and GI wires.
A well-known wire rod manufacturer based in Raipur said, “It seems that prices have almost bottomed out and no further downfall is expected from the current level.”
He also added that almost all manufacturers based in Raipur had offered trade discount of INR 1,000-1,200/MT during last week, depending on the quantity of material lifting.
Currently in Durgapur, 5.5 mm wire rod and HB 12G are available at INR 22,600/MT and INR 24,300/MT respectively. Plants in Raipur are offering the same grade material at INR 24,800/MT and INR 26,800/MT respectively. Prices are basic.
Offers for 12G GI and 12G barbed wires are assessed at INR 31,700/MT and INR 33,500/MT in Raipur. All prices are basic.
A large wire rod producer based in east India is offering 6 mm material at INR 30,900/MT FoR landed to Punjab (freight, excise duty and other taxes included).
Indian billet and wire prices as on 20 Aug’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 | 19,600 | -50 | 24,800 | +200 | 26,800 | +200 | 31,400 | 0 |
| Durgapur | 19,600 | -100 | 22,600 | +100 | 24,300 | +100 | 29,600 | 0 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Note: Prices are basic.
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