Primary TMT Market Sees Rising Demand and Potential Price Hike
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Primary TMT prices remain steady across Mumbai, Delhi NCR, and Vizag, with rising demand suggesting possible price hikes next month. Material shortages are expected to resolve soon. Meanwhile, Union Minister Nitin Gadkari criticized steel cartels for hampering infrastructure development and promotes fibre-reinforced plastic (FRP) as a cost-efficient alternative.
Key Takeaways
- Current TMT Prices: Mumbai and Delhi NCR prices range from Rs. 51,500-52,000/mt, while Vizag stands slightly lower at Rs. 50,000-50,500/mt.
- Demand on the Rise: Inquiries and conversion rates have improved, signalling a strong market trend and potential price hikes.
- Supply Shortage Temporary: Material scarcity persists in some regions but is expected to resolve as production catches up.
- Steel Cartel Criticism: Union Minister Gadkari urges adopting FRP to combat inflated steel prices and promote infrastructure growth.
- Market Outlook Positive: Demand and prices are projected to grow steadily based on current trends.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 51,500-52,000/mt Ex-Delhi NCR: Rs.51,500-52,000/mt Ex-Vizag: Rs. 50,000 - 50,500/mt
- Note - Distributors across North, West and South are stable. Above pricing is based on the same.
Primary TMT Demand & Supply
The flow of inquiries and conversion ratio have both increased over the last few weeks, suggesting a healthy market trend. Given the rising demand, prices may rise in the upcoming month. In certain areas, the distributors have less material available, but since the material is being produced, it will be filled in a few days. In a few days, supply and demand won't be a problem.
Primary TMT News
- Union Minister Nitin Gadkari criticised steel and cement cartels for hindering infrastructure growth and urged adopting fibre-reinforced plastic (FRP) as an alternative to rising costs. At the IECRP 2025 exhibition, he remarked, “Steel and cement industries are in the hands of a few people. They always decide the rates. Their cartelism is a big problem for the country.”
- Gadkari previously raised concerns about inflated prices, writing to the PM in 2021 and addressing the issue at the 2023 CRISIL India Infrastructure Conclave. He highlighted FRP’s potential in infrastructure, urging manufacturers to price it 20-25% lower than steel for wider adoption.
Expert Opinion
Compared to last week, the market's demand has grown. The primary segment's material scarcity has caused a slight disruption in supply and demand. The market is expected to move upward in terms of demand and pricing, as the current trend indicates.
Daily Market Report
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