Chhattisgarh rebar/tmt manufacturing association based in Raipur and Raigarh revised their gauge parity effective Feb 18. Gauge parity increased by Rs500/mt for rebars of sizes.
After revision, the parity is at Rs3,000/mt for 10 to 25mm; Rs4,000/mt for 8 and 32mm. Earlier, the parity for 10 to 25mm was at Rs2,500/mt and Rs3,500/mt for 8 and 32mm. Gauge parity is revised to maintain conversion gap between ingot/billet to rebar.
Amid low demand, trading was thin on Tuesday, after the parity was increased. As demand for rebar revives, the increased prices will be accepted by market participants, according to Davis sources.