Distributors Brace for Further Price Hikes in Primary TMT Market
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Primary TMT prices have risen this month as buyers adjust to current rates, with expectations of further increases. Distributors anticipate significant hikes due to material shortages. Demand remains steady, but material constraints, worsened by ongoing maintenance at major plants, are straining supply.
Key Insights
- Primary TMT Pricing Trends: Ex-Mumbai and Ex-Delhi NCR prices at Rs. 55,500-56,000/mt, with Ex-Vizag slightly lower.
- Price Increase Expected: Buyers adjusting to higher prices; market anticipates further price rises due to material shortages.
- VSP Challenges: Visakhapatnam Steel Plant faces protests over resource limitations and privatization fears.
Primary TMT Prices
- Prices are as follows : Ex-Mumbai: Rs. 55,500-56,000/mt Ex-Delhi NCR: Rs. 55,500-56,000/mt Ex-Vizag: Rs. 53,500 - 54,000/mt
- Note - Distributors across North, West and South have increased prices. Above pricing is based on the same.
Primary TMT Demand & Supply
- The conversion ratio was lower than the demand because customers were dissatisfied with the price. The buyers have now come to terms with the market prices and are prepared to pay more for materials because they anticipate further price increases in the days ahead. After the SAIL ISP plant begins to operate, the prices may stabilize.
Primary TMT News
- Trade union leaders in Visakhapatnam allege the NDA government is weakening the Visakhapatnam Steel Plant (VSP) by restricting resources, delaying salaries, and reducing workforce through voluntary retirements and contract terminations.
- At a union meeting, they pledged to resist VSP’s privatization and demanded the withdrawal of labor codes, a minimum wage of Rs 26,000, and regularisation of contract workers.
Expert Opinion
- The market's demand appears to be steady, and the volume of inquiries has increased in comparison to the previous month. Since the main plants are undergoing maintenance, there is a shortage of material. The distributors anticipate significant price increases because of a shortage of materials.
Daily Market Report
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