Vizag Steel has increased rebar price by INR 3,000/t ($41) 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 46,200-46,400/t and wire rod (5.5 mm) offer is assessed around INR 46,700-47,000/t ex-Chennai, excluding GST. The company’s output of long steel products stood at 1.88 mn t in Jan-Oct ’20.
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