In a meeting held today, rebar manufacturers based in Durgapur decided to quote basic price from today onwards. However, there is no change in the gauge parity difference.
In conversation with SteelMint, rebar manufacturers based in Durgapur stated that all rebar mills located in Durgapur agree to quote the basic price instead of price including all taxes. They also added that it will also enable manufacturers to understand conversion cost in a volatile market like other states.
Calculation of price: Basic rate +gauge parity+ loading (INR 105/MT) + excise duty (12.5%) + VAT (5%) extra.
Today, rebar basic rate in Durgapur is around INR 21,600/MT for 16 mm and INR 22,100/MT for 12 mm. Inclusive all taxes it will be INR 25, 700/MT for 16 mm and INR 26,300/MT for 12 mm.
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