Indian wire rod offers were moderately up even though there was a weak demand in the previous month, Raipur has marginally increased offers by INR 200/MT while no price change seen in Durgapur in the last one month.
Demand has hit in the downstream wire industry like binding and GI wire that impacted sales of wire rod industry after the government move on demonetization.
Currently in Durgapur, 5.5 mm wire rod and HB 12G are available at INR 25,300/MT and 27,300/MT respectively. Plants in Raipur are offering the same grade material at INR 27,300/MT and 29,300/MT respectively. These prices are basic.
Offers for 12G GI and 12G barbed wires are assessed at INR 40,000/MT and INR 42,000/MT in Raipur W-o-W. All prices are inclusive 2% CST paid.
A well know GI manufacturer based in Raipur stated that, “we had slash the production to almost 50% for the last one month as demand is very poor especially after the currency ban.”
Indian billet and wire prices as on 2 Dec’16
| City | MS Billet | M-o-M | 5.5 mm Wire Rod | M-o-M | Monthly Average wire rod prices (Nov’16) | Monthly Average wire rod prices (Oct’16) | % Change |
| Raipur | 22,400 | +100 | 27,300 | +200 | 27,038 | 26,833 | +1% |
| Durgapur | 22,300 | +200 | 25,200 | 0 | 25,200 | 25,192 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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