Secondary wire rod makers in Raipur and Durgapur have increased offers by INR 1,900/MT and INR 1,200/MT respectively in Mar’16.
Indian secondary wire rod manufacturers mainly in Raipur and Durgapur have continued to increase offers during Mar’16.
In Mar’16, wire rod offers in Raipur and Durgapur have increased by INR 1,900/MT and INR 1,200/MT respectively. Whereas in Feb’16, they have increased offers by INR 4,000/MT and INR 3,500/MT.
Similarly, primary producers like RINL and SAIL have also increased prices by INR 1,000/MT and INR 1,500/MT respectively.
As per market sources, “there is also shortage of wire rod in the market, which also attributed to increase in prices. Recently, Steel Wire Manufactures Association of India (SWMAI) has also filed a petition against MIP on wire rod for which hearing is schedule on 6 Apr’16″.
Presently, 12G GI wire and 12G barbed wire are offered at INR 36,800/MT and INR 38,900/MT respectively (basic price) in Raipur. Offers for both the grades have increased by upto INR 2,500/MT in Mar’16.
Indian billet and wire prices as on 2 Apr’16
| City | MS Billet | M-o-M | 5.5 mm Wire Rod | M-o-M | Monthly Average wire rod prices(Mar’16) | Monthly Average wire rod prices (Feb’16) | % Change |
| Raipur | 23,350 | 900 | 29,100 | 1,900 | 28,000 | 26,300 | 6% |
| Durgapur | 23,000 | 900 | 27,500 | 1,200 | 26,500 | 25,300 | 5% |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices as on 2 Apr’16
|
Region |
Offers in USD/MT |
M-o-M |
| China export (FoB main port) | 347 | +50 |
| CIS export (FoB Black Sea) | 365 | +75 |
| South East Asia (CFR) | 356 | +47 |
Prices in USD/MT
Source: SteelMint Research
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