Southern India-based steel maker – Vizag Steel has raised rebar & wire rod prices by INR 500/t and INR 1,000/t respectively, as per reliable sources of SteelMint. Current rebar (12 mm) offers are assessed at INR 38,500/t, ex yard Chennai. This is the 2nd price hike in Aug’20 due to demand recovery amid positive outlook due to unlock measures. Prior to this, a price hike of INR 1,000/t was reported on 4 Aug.
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