India: SAIL cuts wire rod prices by up to INR 2,400/t ($32/t)

PSU steel major SAIL has announced a reduction in the list price of wire rods (5.5-6mm) by around INR 2,200-2,400/t ($30-32/t) for Jan’22 sales, sources informed SteelMint. The current price stands at around INR 49,300-49,600/t ($662-666/t) ex-Bhilai Steel Plant (BSP), excluding GST at 18%.