India JSPL hikes rebar prices for April sales

Jindal Steel and Power Ltd. (JSPL) hiked rebar (12-32mm, IS1786) prices by INR 1,000/t ($13/t) with effect from 1 Apr'22. Post revision, the price stands at INR 76,000-76,500/t ($1,007-1,014/t) delivered-Delhi basis, excluding GST at 18%. Increase in the cost of production as a result of higher raw material prices, i.e. iron ore and coal, have contributed to the hike.