India: Re-bar producers in Mumbai raise gauge parity by INR 200/t

Re-bar manufacturers in Mumbai have revised the gauge parity, sources told SteelMint. Gauge differences have increased by INR 200/t effective from today (16 Aug’21) for all sizes (i.e. 8mm to 32 mm). Re-rollers have increased the gauge parity after a long gap of more than seven months in order to improve their conversion spread, which is at INR 4,423/t in Aug – the average spread from 1 Aug to 16 Aug – as per SteelMint estimates.