Vizag Steel has increased rebar price by INR 2,500/t ($34) and wire rod by INR 2,000/t ($27) w.e.f today, trade sources reported to SteelMint. The current rebar (12 mm) offer is reported at around INR 48,700-48,900/t and wire rod offer is assessed at around INR 48,700-49,000/t ex-Chennai, excluding GST. This is the company’s second price hike made in Dec ’20. The company’s output of long steel products stood at 1.88 mn t in Jan-Oct ’20.
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