India: SAIL slashes rebar prices by INR 2,000/t ($27/t) for Dec’21 sales

PSU steel major SAIL has revised its list prices of rebar (12-32mm) by INR 2,000/t for Dec’21 sales, sources informed SteelMint.

The effective price of rebar (Fe 500 D) stands at around INR 58,000/t ($772/t), on an exy-Mumbai basis excluding GST at 18%.

The Indian integrated steel producers are reducing prices amidst a sharp correction in steelmaking raw material prices, SteelMint notes.