Indian secondary wire rod market based in Durgapur has seen an increased offers by INR 500/MT in a week’s time inline with the rise in billet prices . However, no price change has recorded in Raipur during the same duration.
As per the market participants, demand of wire rod remains to be dull from the GI and binding wire manufacturers.
Also heard, owing to less availability of transportation in Raipur especially for outstation market during previous week the sales remain was affected for all wire products.
Currently in Durgapur, 5.5 mm wire rod and HB 12Gare available at INR 26,000/MT and 28,200/MT respectively. Plants in Raipur are offering the same grade material at INR 27,000/MT and 29,000/MT respectively. These prices are basic.
As per our SteelMint sources, almost all wire rod and HB manufacturers in Raipur are offering discount of about INR 800-1,000/MT during last week.
Offers for 12G GI and 12G barbed wires are assessed at INR 40,000/MT and INR 42,000/MT in Raipur. All prices are inclusive 2% CST paid.
Indian billet and wire prices as on 10 Dec’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 | 22,300 | +50 | 27,000 | 0 | 29,000 | 0 | 33,500 | +400 |
| Durgapur | 22,450 | +450 | 26,000 | +500 | 28,200 | +500 | 35,500 | +500 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
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