Indian secondary wire rod market mainly based in Raipur and Durgapur has increased offers by INR 500/MT W-o-W in line with the increase in billet offers.
Currently in Durgapur, 5.5 mm wire rod and HB 12G are available at INR 25,200/MT and 27,200/MT respectively. Plants in Raipur are offering the same grade material at INR 27,100/MT and 29,100/MT respectively. These prices are basic.
As per SteelMint sources, almost all wire rod and HB manufacturers in Raipur were offering discount of INR 700-1,000/MT during last week.
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 in Raipur said,” Wire Rod prices are certainly increasing day by day but we are facing difficulty to pass the same price to our GI buyers as demand is not very supportive”.
He also added that, “Due to weak demand, we had to decrease the production to almost 50% in order to balance demand – supply gap”.
Indian billet and wire prices as on 28 Nov’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 | +500 | 27,100 | +500 | 29,100 | +500 | 33,100 | 0 |
| Durgapur | 21,900 | +700 | 25,200 | +400 | 27,200 | +400 | 34,600 | 0 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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