Wire rod prices in Raipur & Durgapur surge further to INR 1,600/MT (6%) in Jan’17, M-o-M. These markets are the key supplier of all kinds of MS Wires across India. Bulk trades from the respected markets have reported majorly to West & North India.
During the month, wire rod manufacturers based in Raipur has increased offers by INR 1,350/MT (5%) & in Durgapur it increased by INR 1,600/MT (6%). Price gain momentum in line with rise in billet prices as well seasonal demand for the product.
During the month, Billet prices in Raipur & Durgapur surge by INR 1,500/MT (7%).
Monthly average prices for wire rod in Jan’17 are as follows – at INR 29,100/MT ex-Raipur & INR 28,200/MT ex-Durgapur. Prices are basic & ex-plant and excluding ED & VAT/CST.
Considering monthly average, Jan’17 wire rod price were on 19 month’s high, as the same price range were reported in the month of Jun’15, when it was traded at INR 29,500/MT ex-Raipur & INR 29,000/MT ex-Durgapur.
Indian Billet and Wire Prices
| Markets | Monthly Average billet prices | Monthly Average Wire Rod prices | Changes in Wire Rod in % (M-o-M) | Price Change (M-o-M) | ||
| Dec’16 | Jan’17 | Dec’16 | Jan’17 | |||
| Durgapur | 23,100 | 24,600 | 26,600 | 28,200 | 6% | 1,600 |
| Raipur | 23,100 | 24,600 | 27,750 | 29,100 | 5% | 1,350 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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