India: ESL Steel raises wire rods prices by INR 1,500/t ($20/t)

ESL Steel Ltd. has raised wire rods (5.5-6mm, SAE 1008) prices by INR 1,500/t ($20/t) with effect from 6 Apr’22, sources informed SteelMint. Depleting inventories and strong order positions resulted in the price hike. The effective price of wire rods stands at INR 73,000-73,500/t ($965-972/t) exy Delhi basis, excluding GST at 18%.