Indian wire rod prices have inched up in Raipur, but unaltered in Durgapur. In context to global market, Chinese wire rod export offers have hit 16-month highest.
In a week’s time, Indian secondary wire rod manufacturers have increased their offers slightly by INR 300/MT in Raipur, but kept unchanged in Durgapur. Meanwhile, demand is reported to be tepid.
Last week, few wire rod manufacturers based in Raipur had offered discount in order to push sales by INR 400-600/MT, depending on quantity purchased and payment conditions, quoted by a trader.
Presently, wire rod and HB manufacturers in Raipur are offering the material at INR 28,500/MT and INR 30,500/MT (basic price) respectively.
Similarly in Durgapur, wire rod and HB are available at INR 26,800/MT and INR 28,700/MT (basic price) respectively.
Meanwhile, offers of 12G GI wire and 12G barbed wire are assessed at INR 36,400/MT and INR 38,500/MT respectively (basic price) in Raipur. Offers reduced by INR 400/MT W-o-W.
Global market
Presently, Chinese wire rod export offers are evaluated at USD 390/MT, FoB main port; have surged by around USD 35/MT. Prices have hit almost 16-month highest level, which were last seen in Jan’15.
Indian billet and wire prices as on 18 Apr’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 | 22,400 | -100 | 28,500 | +300 | 30,500 | +300 | 35,600 | 0 |
| Durgapur | 22,500 | +150 | 26,800 | 0 | 28,700 | 0 | 35,600 | 0 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 16 (11-17 Apr’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 390 | +35 |
| CIS export (FoB Black Sea) | 385 | +15 |
| South East Asia (CFR) | 373 | +11 |
Prices in USD/MT
Source: SteelMint Research
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