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The specification for India-origin domestic rebar will be changed to 12mm IS 1786 Fe 415, instead of IS 2062 20mm Fe 500.
This specification is being changed as most market participants now take 12mm material of IS 1786 Fe 415 grade as the reference product and price. It is more reflective of the market, they say, as this product is more widely used.
The specification for hot dipped galvanized coil (HDG) for export will be changed to 1,250mm width material of 0.50mm thickness, with zinc coating applied at 140gsm, instead of 900-1,200mm width material of 0.30mm thickness.
The HDG specification is being changed as very little 0.30mm-gauge material is now exported, while 0.50mm-gauge material is consistently exported and thus offers a better benchmark price.
The consultation period will end on June 15 with changes taking place from June 16.
If you have any comments on this proposal, please contact Alona Yunda by email: alona.yunda@metalbulletin.com.