Electrosteel Steels has increased rebar and wire rod prices further by INR 750/t w.e.f today, trade sources reported to SteelMint. The current rebar (12-32 mm) offer is reported at around INR 48,000/t and wire rod (SAE1008 grade, size 5.5 mm) offer stands at INR 50,350-50,400/t, ex-works Jharkhand (excluding GST). The offers for rebar have increased by INR 7,250 in total & wire rod by INR 6,550-6,600/t in total, since the beginning of Dec ’20. The company has a production capacity of approx 1.5 mn t pa for long steel products.
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