Primary TMT Market Sees Rising Demand, Prices Expected to Increase

Primary TMT

Secondary TMT

31 Jan 20251 Min ReadDaily Market Report

Primary TMT prices remain stable across major regions, with Ex-Mumbai and Ex-Delhi NCR at Rs. 51,500-52,000/mt and Ex-Vizag at Rs. 50,000-50,500/mt. Demand has increased compared to last week, leading to higher conversions and inquiries. Market optimism suggests a price hike in February.

Key Takeaways

Primary TMT Prices Hold Steady: Prices remain stable across major regions, with no significant fluctuations reported today.
Market Demand Strengthens: Inquiries and conversions have increased compared to last week, indicating a more optimistic sentiment in the market.
Price Increase Expected in February: Current trends suggest that both primary and secondary mill prices may see an upward revision next month.
Tata Steel’s Hydrogen Pipes Innovation: The company has developed India’s first hydrogen transportation pipes, supporting the country’s clean energy goals.
Market Awaits February Trends: A clearer picture of pricing direction will emerge after the first week of February.

Primary TMT Prices

Prices are as follows (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

Market demand has increased in comparison to the last week. Conversions and the number of inquiries have both gone up. It seems like the market is feeling optimistic. Current trends indicate that prices will increase in February. A clear picture will emerge following the first week of February.

Primary TMT News

Tata Steel has developed India’s first hydrogen transportation pipes, capable of carrying 100% pure gaseous hydrogen at 100 bar pressure. Made in-house using steel from its Kalinganagar plant, the pipes passed tests at RINA-CSM S.p.A in Italy. Prabhat Kumar, VP at Tata Steel, said this strengthens the company’s role in clean energy. With India targeting 5-10 MMT of Green Hydrogen by 2030, demand for hydrogen-compliant steel is set to rise, requiring 350,000 mt over the next 5-7 years.

Expert Opinion

Due to the prevailing trend and a rise in inquiries, a price increase is anticipated in the next month. Prices in the secondary market have increased, and plants are expected to increase primary pricing in February. By February, it will be clear how much both primary and secondary mill prices will increase.