In a week’s time, secondary wire rod makers have raised offers by INR 1,200/MT in Raipur and INR 1,100/MT in Durgapur, following gain in MS billet prices by INR 1,200/MT in Raipur and INR 700/MT in Durgapur.
Few secondary wire rod manufacturers reported that demand is firm across Indian market. As per quality control order dated 16 Dec’15 issued by Steel Ministry, import of wire rod under chapter 7227 and 7217 will also require BIS certificate from 15 Mar’16.
Currently, wire rod and HB manufacturers in Raipur are offering the material at INR 26,100/MT and INR 27,700/MT (basic price) respectively, with a price hike of INR 1,200/MT W-o-W for both of the material. Similarly in Durgapur, wire rod and HB are being offered at INR 24,200/MT and INR 26,100/MT(basic price) respectively, with a price hike of INR 1,100/MT W-o-W for both the material.
Presently, 12G GI wire and 12G barbed wire are offered at INR 34,700/MT and INR 37,200/MT respectively (basic price) in Raipur. Offers for both the grades have increased sharply by upto INR 1,500/MT W-o-W.
Indian billet and wire prices as on 21 Dec’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 | 21,700 | +1,200 | 26,100 | +1,200 | 27,700 | +1,200 | 31,200 | +700 |
| Durgapur | 20,700 | +700 | 24,200 | +1,100 | 26,100 | +1,100 | 31,900 | +700 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 51 (14-19 Dec’15)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 257 | 0 |
| CIS export (FoB Black Sea) | 292 | -8 |
| South East Asia (CFR) | 272 | -3 |
Prices in USD/MT
Source: SteelMint Research
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