Secondary wire rod makers in Raipur and Durgapur have reduced their offers marginally in a week’s time.
Indian secondary wire rod manufacturers based in Raipur and Durgapur have slightly reduced their offers by INR 300-400/MT within last one week owing to weak buying.
It seems that buyers/ downstream wire industry hadn’t kept the material in stock, looking at further fall in market.
In Durgapur, wire rod and HB are available at INR 24,000/MT and INR 25,800/MT (basic price) respectively; prices have fallen by upto INR 400/MT.
Meanwhile, plants in Raipur are offering the same grade materials at respective price of INR 25,900/MT and INR 27,900/MT (basic price); offers fell slightly by INR 300/MT W-o-W.
Offers for 12G GI wire and 12G barbed wires are assessed at INR 33,400/MT (0) and INR 35,200/MT (0) seperately in Raipur. Prices are basic.
A GI manufacturer based in Raipur said,“Demand for GI wire is quite low from the last couple of weeks. Trades are taking place in small quantities.”
He also added that GI wire, which was usually traded higher by around INR 2,000/MT than binding wire, is trading at the same level of binding wire from last 2-3 weeks.
Indian billet and wire prices as on 13 Jun’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 | 21,000 | 0 | 25,900 | -300 | 27,900 | -300 | 33,300 | 0 |
| Durgapur | 20,600 | -150 | 24,000 | -400 | 25,800 | -400 | 34,100 | 0 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Leave a Reply