India: Rebar manufacturers raise gauge parity by INR 500/t in Mumbai

Mumbai-based induction furnace route rebars manufacturers have revised gauge parity on yesterday during late hours in order to improve their conversion spread, sources told SteelMint. Gauge differences increased by INR 500/t with effect from 20 Oct’22 for all sizes, and the current gauge difference for 10-25 mm rebars stands at INR 5,000/t; for 8 mm and 32 mm size it stands at INR 5,500/t.