Secondary wire rod makers have increased their offers by upto INR 1,200/MT in Raipur and INR 600/MT in Durgapur within a week.
Indian secondary wire rod manufacturers mainly in Raipur and Durgapur have increased offers in-line with increase in semi finish prices in a week’s time.
Presently, wire rod and HB manufacturers in Raipur are offering the material at INR 27,200/MT and INR 29,000/MT (basic price) respectively. Prices for both the material have increased by upto INR 1,200/MT W-o-W.
Similarly in Durgapur, wire rod and HB are being offered at INR 25,700/MT and INR 27,500/MT (basic price) respectively. Prices have fallen by upto INR 600/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 fell by INR 800/MT W-o-W.
Primary market
Primary wire rod producers like SAIL and RINL had increased offers in two slot after MIP was imposed on 5 Feb’16 on various steel products.
SAIL had increased offers by INR 2,000/MT on 11 Feb’16 and subsequently by INR 500/MT. Similarly, RINL (Vizag Steel) had also increased prices by INR 1,200/MT on 8 Feb’16 and subsequently by INR 800/MT.
Indian billet and wire prices as on 22 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 | 22,400 | +900 | 27,200 | +1,200 | 29,000 | +1,200 | 33,400 | +1,700 |
| Durgapur | 21,750 | +650 | 25,600 | +600 | 27,400 | +600 | 33,600 | +600 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 8 (15-21 Feb’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 265-270 | 0 |
| CIS export (FoB Black Sea) | 290-295 | 0 |
| South East Asia (CFR) | 270-275 | 0 |
Prices in USD/MT
Source: SteelMint Research
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