India: ESL Steel raises long steel prices by up to INR 2,000/t ($26/t)

Vedanta subsidiary ESL Steel has revised long steel prices for Mar’22 sales, sources informed SteelMint. Effective prices:

• Rebar (IS 1786, Fe 500D): INR 65,500-66,000/t ($866-873/t), up INR 1,000/t ($13/t)
• Wire rods (SAE 1008): INR 63,500-64,000/t ($840-846/t), up INR 2,000/t ($26/t)
• These prices are on exy-Delhi basis, excluding GST at 18%.

Robust demand, healthy order books coupled with cost push led to the price hike.