Secondary wire rod makers have increased their offers by upto INR 800/MT and primary producers by INR 500/MT.
Indian secondary wire rod manufacturers mainly in Raipur and Durgapur have increased their offers owing to price rise in semi finish and better demand from end-user industries.
Presently, wire rod and HB manufacturers in Raipur are offering the material at INR 25,500/MT and INR 30,300/MT (basic price) respectively. Prices for both the material have increased by upto INR 800/MT W-o-W.
Similarly in Durgapur, wire rod and HB are offered at INR 26,800/MT and INR 28,600/MT (basic price) respectively. Prices have increased by upto INR 700/MT W-o-W for both the material.
Meanwhile, 12G GI wire and 12G barbed wire are available at INR 35,100/MT and INR 36,800/MT respectively (basic price) in Raipur. Offers for both the grades fell by INR 1,000/MT W-o-W.
Primary market
Primary wire rod producers like RINL (Vizag Steel) and Steel Authority of India Limited (SAIL) had increased offers twice by INR 500/MT on 11 Mar’16 and 12 Mar’16 respectively. In the starting of the current month, RINL had increased offers by INR 1,000/MT.
As per a large dealer based in Punjab, presently SAIL has offered the material at INR 34,000/MT FoR in Punjab for 6 mm.
Indian billet and wire prices as on 14 Mar’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 | 23,000 | +600 | 28,300 | +700 | 30,100 | +700 | 34,300 | +900 |
| Durgapur | 22,250 | +250 | 26,800 | +600 | 28,600 | +500 | 34,800 | +500 |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Global wire rod prices in week 11 (7-13 Mar’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 300-310 | +12 |
| CIS export (FoB Black Sea) | 290-295 | 0 |
| South East Asia (CFR) | 305-310 | +21 |
Prices in USD/MT
Source: SteelMint Research
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