In a week, secondary wire rod makers have increased their offers by INR 800/MT in Raipur and INR 900/MT in Durgapur.
Indian secondary wire rod makers mainly based in Raipur and Durgapur have increased offers by INR 900/MT post holi. But, no major buying took place at increased rates as reported by downstream industries.
Most of the market participants are uncertain whether the market will sustain or not in the ongoing week as demand is still low.
Presently, wire rod and HB manufacturers in Raipur are offering the material at INR 28,500/MT and INR 30,300/MT (basic price) respectively. Prices for both the material have increased by upto INR 800/MT W-o-W.
Similarly in Durgapur, wire rod and HB are offered at INR 27,300/MT and INR 29,100/MT (basic price) respectively. Prices have increased by upto INR 800/MT W-o-W for both the material.
Meanwhile, 12G GI wire and 12G barbed wire are available at INR 35,600/MT and INR 37,700/MT respectively (basic price) in Raipur. Offers for both the grades up by INR 900/MT W-o-W.
Indian billet and wire prices as on 27 Mar’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 | 23,000 | +800 | 28,500 | +800 | 30,300 | +800 | 34,700 | +800 |
| Durgapur | 22,700 | +700 | 27,300 | +900 | 29,100 | +800 | 35,700 | +500 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 13 (21-27 Mar’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 343-348 | +32 |
| CIS export (FoB Black Sea) | 345-350 | 0 |
| South East Asia (CFR) | 320-325 | +5 |
Prices in USD/MT
Source: SteelMint Research
Leave a Reply