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

Vedanta subsidiary ESL Steel has increased rebar and wire rods prices further by INR 2,000/t ($26/t) for Mar’22. Revised prices:

• Rebar (12-32mm): INR 76,000-76,500/t ($998-1,004/t)
• Wire rods (5.5-6mm, SAE1008): INR 71,500-72,000/t ($939-945/t)
• Prices mentioned are exy Delhi and exclude 18% GST.

Surge in raw material costs along with healthy order books have resulted in the price hike.