India: Vedanta-ESL raises long steel prices by INR 2,000/t ($27)

Vedanta subsidiary ESL has announced a price hike for longs. The company has raised wire rod prices by INR 2,000/t ($27) for Nov’21.

Effective prices:

• Low-carbon wire rod stands at INR 60,500/t ($816)
• Rebar (12-32 mm) is at INR 60,000/t ($810)
• Prices are on ex-plant basis, excluding GST at 18%.
• The price hike comes on the back of rising production costs and strong demand.