India: Rebar producers in Chennai raise gauge parity by INR 500/t

Rebar manufacturers in Chennai have revised their gauge parity, according to sources. The gauge difference has been increased by INR 500/t for 12mm and 16mm rebar. The revised parity is as follows:

• 20mm & 25mm – basic rate
•  10mm, 12mm & 16mm – additional INR 500/t
•  8mm & 32mm – additional INR 1,500/t

This adjustment has been implemented to improve conversion spreads, narrowing over the past few months.