ESL hikes rebar prices by INR 1,500/t ($20/t)

Vedanta subsidiary ESL Steel has planned another round of hike in the list price of rebar (12-32mm) by INR 1,500/t ($20/t) on the back of increased cost pressure and demand. Post revision, the effective price for rebar stands at INR 60,500-61,000/t ($808-815/t) exy-Delhi excluding GST at 18%.

On a weekly basis, the steelmaker has raised prices by INR 3,500-4,000/t ($47-53/t).