Polycab India and Finolex Cables have implemented price hikes across select wire and cable products, following a rise in copper prices and elevated input costs, according to channel checks. The companies had announced the price increases to dealers towards the end of August, but the implementation was delayed amid competitive considerations and announcements from other major industry players.
Finolex Cables has implemented a 3% price hike on Light Duty Cables and Communication Cables, effective Sept. 4. Polycab, meanwhile, has raised the listing price by 3% for its 90-metre and 180-metre wires, with the revised prices effective Sept. 2. RR Kabel has also announced price hikes ranging between 2% and 3.5% across its products. However, the company has currently kept the price increase on hold, according to channel checks.
Meanwhile, KEI Industries has not taken any price action so far.
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The pricing actions come against the backdrop of higher copper prices, which have a significant bearing on the cost structure of the wires and cables industry. Copper accounts for a substantial portion of raw material costs for cable manufacturers.
In the competitive wires and cables market, pricing decisions by large players are closely watched as companies seek to protect margins while remaining competitive. Industry competition remains elevated, with established players including Polycab, Finolex Cables, KEI Industries and RR Kabel, alongside new entrants and capacity additions.
The staggered implementation of price increases highlights the competitive dynamics within the sector, as companies balance the need to pass on higher commodity costs with concerns around demand and market share.
Recent industry commentary has also pointed to the impact of commodity volatility on cable manufacturers, with pricing actions being used to offset sharp movements in input costs.
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