SAIL and RINL have declined wire rod offers by upto INR 1,000/MT for Nov’15.
Secondary wire rod manufacturers in Raipur and Durgapur are offering 5.5 mm at INR 24,300/MT and INR 23,400/MT respectively (basic price). Prices have marginally raised by INR 100/MT W-o-W with increase in billet prices in Raipur. However, offers in Durgapur have fallen by INR 300/MT.
It seems that trade activities in wire rod and HB wires are very limited in Raipur as buyers are less interested to take new position, following Diwali festival.
Currently, 12G GI wire and 12G barbed wire are being offered at INR 36,000/MT and INR 38,000/MT respectively (prices including all) in Raipur.
A GI manufacturer based in Raipur stated, “We think prices have bottomed out for all grades of wire and demand is likely to be better post Diwali.”
Primary market
Primary steelmakers like SAIL and RINL have declined wire rod offers by upto INR 1,000/MT for Nov’15. As per sources, SAIL is currently offering 7 mm wire rod at INR 29,500/MT and 5 mm at around INR 30,500/MT (FoR Punjab).
Indian billet and wire prices as on 9 Nov’15
|
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 | 20,450 | +250 | 24,300 | +100 | 25,900 | +100 | 28,900 | -600 |
| Durgapur | 20,500 | -50 | 23,400 | -300 | 25,100 | -300 | 31,600 | 0 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices as on 9 Nov’15
|
Region |
USD/MT |
W-o-W |
| China export (FOB main port) | 273 | 0 |
| CIS export (FOB Black Sea) | 318 | 0 |
| South East Asia (CFR) | 285 | – 2 |
Prices in USD/MT
Source: Steelmint Research
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