India: ESL Steel increases rebar, wire rod prices by INR 2,000/t ($27/t)

Vedanta subsidiary ESL Steel has increased list prices of rebar and wire rod by INR 2,000/t ($27/t) for mid-Jan’22 deliveries. Effective prices:

• Rebar (12-32mm, BF-route): INR 56,500-57,000/t ($759-766/t)
• Wire rod (5.5-6mm): INR 56,500-56,800/t ($759-763/t)
• Prices are on exy-Delhi basis, excluding GST at 18%.

The price hike is an outcome of improved demand and cost push, supported by increase in induction furnace rebar and semi-finished steel prices.