Indian wire rod manufacturers mainly in Raipur have decreased their offers by INR 700/MT. Meanwhile, Chinese wire rod export offers too have fallen by USD 70/MT.
In a week’s time, Indian secondary wire rod manufacturers in Raipur have decreased their offers by INR 700/MT, while, prices in Durgapur have changed marginally.
A wire rod manufacturer based in Raipur reported that buying has been quite better from outstation than locally since starting of May’16.
Wire rod and HB manufacturers in Raipur are offering the material at INR 26,900/MT and INR 28,900/MT (basic price) respectively. Similarly in Durgapur, wire rod and HB are available at INR 25,700/MT and INR 27,600/MT (basic price) respectively.
Offers for 12G GI wire and 12G barbed wires are assessed at INR 34,700/MT (-800) and INR 36,400/MT (-900) respectively in Raipur. Prices are basic.
A GI manufacturer based in Raipur said, ”Few wire rod manufacturers based in Raipur have continued to offer discount of upto INR 1,000/MT last week, depending on the quantity purchased and payment terms”.
Indian billet and wire prices as on 16 May’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 | 21,400 | -700 | 26,900 | -700 | 28,900 | -700 | 33,900 | -800 |
| Durgapur | 21,300 | -1,200 | 25,700 | -100 | 27,600 | -100 | 34,600 | 0 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 20 (09-15 May’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 355 | -70 |
| CIS export (FoB Black Sea) | 488 | 0 |
| South East Asia (CFR) | 398 | -47 |
Prices in USD/MT
Source: SteelMint Research
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