Vizag Steel has decreased finished long steel price by INR 1,000/t ($14), sources have reported to SteelMint. The current offer for rebar (12 mm) stands at around INR 54,400/t and wire rod SAE 1008 (5.5 mm) at INR 52,300/t ex-Chennai, excluding GST. Bearish market sentiments in the secondary long steel segment and dull demand have resulted in decline in offers. The company’s output for long steel products stood at 2.54 mn t in CY ’20.
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