Indian wire rod prices increase in line with the rise in billet prices in a week’s time.
Indian wire rod manufacturers based in Raipur and Durgapur increased their offers in the last one week by INR 100-400/MT owing to increased billet prices coupled with slightly improved demand.
In addition, manufacturers based in Raipur also reduced trade discount to INR 500/MT which they were offering at around INR 1,200-1,500/MT two-three weeks ago, depending on the quantity of material lifting.
Currently, in Durgapur, 5.5 mm wire rod and HB 12G are available at INR 23,700/MT and INR 25,400/MT respectively. Plants in Raipur are offering the same grade material at INR 25,400/MT and INR 27,400/MT respectively. Prices are basic.
Offers for 12G GI and 12G barbed wires are assessed at INR 31,400/MT and INR 33,000/MT in Raipur. All prices are basic.
A well-known GI and barbed manufacturer based in Raipur said, “Wire rod prices are certainly moving up which is forcing us to increase prices of finished material”.
However, the demand is still not very good which led to pressure in conversion spread between HB and GI Wire.
Indian billet and wire prices as on 12 Sep’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 | 20,900 | +300 | 25,400 | +100 | 27,400 | +100 | 30,000 | +300 |
| Durgapur | 20,500 | +300 | 23,700 | +400 | 25,400 | +400 | 32,500 | +400 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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