The mid sized mills in Durgapur & Raipur have slightly changed their prices following billet price movement in domestic market.
In context to supply-demand, as per mills in Durgapur, eastern India inventories are limited as domestic demand is supported since couple of days. One of the trader in Durgapur confirmed, purchase of about 2,000 MT Wire rod yesterday at the price range of INR 37,000-37,400/MT ex-mill, Durgapur.
However as per mills, due to election season, liquidity crunch arise among traders and construction industries, this leads to slow lifting of material for outside of state.
In line Raipur, inventories are sufficient with the manufacturers and traders as well. Hence trade discounts raised by them in current week and currently not less than of INR 1,000-1,200/MT which was last week hovers at INR 600-800/MT.
Wire rod is the key product which after process converts in to varity of wires. The current trade reference price range of 5.5mm Wire rod by mid sized mills reported at INR 37,000-37,500/MT ex-Durgapur & INR 37,300-37,500/MT ex-Raipur; excluding 18% GST.
As per Raipur based suppliers, the demand is mostly from South India including local market. Meanwhile Durgapur based mills are largely dealing with Northern India and demand for exports remained poor, as reported by participants.
— The Wire rod export offers for 5.5 mm by mid sized mills evaluted at USD 530-535/MT and through the large mills at USD 540/MT; ex-mill in eastern India.
— The domestic offers for Wire rod by Electro Steels heard at around INR 42,000/MT ex-Bokaro, Jharkhand for low carbon material.
— Rashmi Metaliks in Durgapur (Kharagpur) has reported 5.5mm Wire rod at around INR 37,600/MT ex-plant.
— Adhunik Alloys has reported Wire rod prices at around INR 37,500/MT ex-plant, Jharkhand.
— In Central region (Raipur), Real Ispat (GK TMT) & Prakash Industries, the renowned plants, today has raised prices by INR 200/MT and the latest prices hovering at INR 38,500/MT ex-plant & excluding GST.
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