Secondary wire rod makers in Raipur increased offers by upto INR 4,500/MT and in Durgapur by INR 3,500/MT in a week’s time.
Indian secondary wire rod manufacturers increased offers sharply last week, after the government’s clear signal for imposition of minimum import price (MIP) on steel products.
During Apr’15- Jan’16, bar and rod import (under the chapter 7213, 7214 and 7227) was about 1 MnT. Out of this, 75% of the material consist of wire products, as per custom data available with SteelMint.
Presently, wire rod and HB manufacturers in Raipur are offering the material at INR 27,100/MT and INR 28,900/MT (basic price) respectively. Prices for both the material have surged by upto INR 4,500/MT W-o-W.
Similarly in Durgapur, wire rod and HB are offered at INR 26,000/MT and INR 27,900/MT (basic price) respectively. Prices have surged by upto INR 3,500/MT W-o-W for both the material.
Meanwhile, 12G GI wire and 12G barbed wire are available at INR 33,400/MT and INR 35,100/MT respectively (basic price) in Raipur. Offers for both the grades have increased sharply by upto INR 3,000/MT W-o-W.
Indian billet and wire prices as on 8 Feb’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 | 22,750 | +2,800 | 27,100 | +4,500 | 28,900 | +4,500 | 32,200 | +4,000 |
| Durgapur | 22,350 | +2,750 | 26,000 | +3,300 | 27,900 | +3,500 | 34,000 | +3,300 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 6 (1-7 Feb’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 268 | 0 |
| CIS export (FoB Black Sea) | 285 | 0 |
| South East Asia (CFR) | 278 | 0 |
Prices in USD/MT
Source: SteelMint Research
Note: Prices are basic, excise duty & other taxes extra
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