According to Mining News Pro -According to Joint Plant Committee (JPC) - under the Ministry of Steel, Indian wire rod production stood at 3,53,000 MT in Aug`18 as compared to 3,18,000 MT in July’18, surge by 11% M-o-M.
Out of total wire rod production in Aug’18, production by large mills stood at 2,22,000 MT, surge by 12% compared to 1,99,000 MT in Jul`18 and rest being produced by medium mills which are mainly located at Raipur and Durgapur.
In large scale mills, Steel Authority of India Limited (SAIL) observed a sharp increase in production by 114% M-o-M in Aug’18 and stood at 22,000 MT. The company`s production surged in line with better capacity utilization.
In Aug`18, out of total wire rod productions, the large steel mills like SAIL, RINL, Tata Steel, JSW Steel and JSPL accounted for about 63% of production and rest was produced by other medium scale producers, as per report.
Wire Rod Prices-
At present, wire rod prices in Durgapur are hovering in the range of INR 41,100-41,400/MT (USD 566-570) for 5.5mm commercial grade material, ex-works & excluding GST.
Meanwhile, wire rod prices in Raipur evaluated at around INR 41,600/MT (USD 572) ex-works & excluding GST. Discounts extra depending on the quantity.
Large mills domestic wire rod offer for SAE 1008 grade, 5.5-6 mm is assessed at around INR 46,000-46,500/MT (USD 638-640) FoR Chennai, GST extra.
