India Steel Market Watch
November 3: Wire rod offers declined on sluggish demand, resulting in higher inventory levels, industry sources told ISMW.
Prices fell by Rs 800 per ton in Durgapur and Rs 500 per ton in Raipur.
RINL is offering wire rods of 7 mm at Rs 33,800 per ton (ED included) ex-Vizag in October, down from Rs 38,100 per ton (ED included) in September. The company is offering wire rods of 8 mm at Rs 33,700 per ton (ED included) ex-Vizag in October, down from Rs 38,000 per ton (ED included) in September.
Following are prevailing structure prices in different markets:
Indian structure prices |
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Product |
Unit |
Market |
Price (Nov 3, 2015) |
Price (Oct 27, 2015) |
w-o-w |
40 Angle |
Rs/ton (basic) |
Gobindgarh |
25700 |
26200 |
-500 |
40 Angle |
Rs/ton (basic) |
Raipur |
24500 |
25500 |
-1000 |
40 Angle |
Rs/ton (basic) |
Mumbai |
26000 |
26700 |
-700 |
200 Channel |
Rs/ton (basic) |
Ghaziabad |
30000 |
30500 |
-500 |
200 Channel |
Rs/ton (basic) |
Raipur |
25500 |
26500 |
-1000 |
5.5 mm Wire rod |
Rs/ton (basic) |
Durgapur |
24000 |
24800 |
-800 |
5.5 mm Wire rod |
Rs/ton (basic) |
Raipur |
24500 |
25000 |
-500 |
Source: Traders