Vizag Steel has increased finished long steel price by up to INR 800/t ($11) for Mar sales, sources have reported to SteelMint. The current offer for rebar (12 mm) stands at around INR 50,500/t and wire rod SAE 1008 (5.5 mm) at INR 48,100/t ex-Vizag, excluding GST. Improving sentiments in the secondary long steel segment and average demand have resulted in increased offers. The company’s output for long steel products stood at 0.36 mn t in Jan’21 against 0.38 mn t in the previous month.
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