Slight raise in Wire Rod Offers for Jan’14 – SAIL & RINL

Wire Rod prices up by INR 500-600/MT by primary producers, which was kept unchanged in last month.

RINL, an Indian government-owned Steel producer (Visakhapatnam), has raised its Wire Rod offers by INR 600/MT.

RINL Prices are as follows:

Prices incl. ED, VAT extra

Whereas, by the sources it revealed that, SAIL has also raised Wire Rod prices by INR 500/MT.

A native wire rod trader in Durgapur said, “Demand for Wire Rod is increasing from last month in city. Local Wire rod prices have risen by INR 1,100/MT on M-o-M basis in Dec’13.” In the beginning of upward trend, only clearance of pending orders was made, but now we are receiving new orders on new rates. As well as Wire Rod is increased up to INR 500-600/MT by primary producers and will support the market, he further added.

At present, secondary Wire Rod (5.5 mm) offers are at INR 40,700/MT (Ex Raipur) and INR 39,900/MT (Ex Durgapur). Prices are Inclusive of VAT.