India: ESL Steel revises rebar prices by INR 1,500/t ($20) for early-Mar’22

Vedanta’s subsidiary, ESL Steel, revised rebar prices by INR 1,500/t ($20/t) for early-Mar’22 sales, sources informed SteelMint. The effective price stands at INR 64,500-65,000/t ($858-864/t) on an exy-Delhi basis, excluding GST at 18%. Healthy domestic demand coupled with an increased cost pressure amidst rising raw material prices on global cues led to the price hike.