India: ESL hikes long steel prices by INR 1,500/t ($20/t) for Feb’22 sales

Vedanta subsidiary ESL Steel Ltd. has hiked long steel prices by INR 1,500/t ($20.06/t) for Feb’22 sales, sources informed SteelMint. The effective price for rebar (12-32mm) and wire rods (5.5-6mm) are at INR 59,000-59,500/t ($789-796/t) on exy-Delhi basis, excluding GST at 18%.

Rise in raw material prices, especially coal, coupled with healthy demand has led to the price hike.