Secondary rebar manufacturers based in Mumbai have increased gauge parity for 12-32 mm by INR 200/MT w.e.f 25 Dec’15. Prior to this, gauge parity was revised on 10 May’15.
Mumbai based secondary rebar manufacturers’ association in a meeting held on 24 Dec’15 have increased gauge parity for 12-32 mm rebar, However, they have kept parity unchanged for 8-10 mm rebar. The new parity is effective from 25 Dec’15.
Mr Mahesh Garg, Director of Thane Steels (a rebar producer in Mumbai) said “About 8-10 rebar manufacturers were present in the meeting held on 24 Dec’15. We all have decided to increase gauge parity by INR 200/MT for 12-32 mm w.e.f 25 Dec’15 in order to match rising conversion cost.”
Rebar offers in Mumbai by secondary players have also increased by INR 1,000-1,200/MT in a week’s time. Presently, 12 mm rebar prices in Mumbai are in the range of INR 26,700-30,000/MT (excise duty and other taxes extra).
Historical record of rebar gauge parity in Mumbai
|
Old Gauge Parity w.e.f 27 Aug’14 |
Old Gauge Parity w.e.f 10 May’15 |
New Gauge Parity w.e.f 25 Dec’15 |
| Basic = Floor Price | Basic = Floor Price | Basic = Floor Price |
| 8 mm = Basic+3,400 | 8 mm = Basic+3,200 | 8 mm = Basic+3,200 |
| 10, 32 mm = Basic+2,400 | 10 mm = Basic+2,600 | 10 mm = Basic+2,600 |
| 12-28 mm = Basic+2,400 | 12-32mm = Basic+2,200 | 12-32 mm = Basic+2,400 |
Gauge parity in INR/MT
Source: SteelMint Research
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