Primary TMT Market Stable; India's Steel Imports From China Hit 7-Year High
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Primary TMT prices are now Rs 51,000-51,500/ton in Mumbai and Delhi NCR, and Rs 49,500–50,000/ton in Vizag. The demand and supply balance remains steady. Market experts are keeping an eye on October for clearer market shifts. Meanwhile, India saw a seven-year high in finished steel imports.
Primary TMT Price
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 51,000-51,500/ton Ex-Delhi NCR: Rs. 51,000-51,500/ton Ex-Vizag: Rs. 49,500–50,000/ton
- Note - Distributors across North, West and South have increased prices. Above pricing is based on the same.
Primary TMT Demand and Supply
- The market seems to be stable. The demand pattern is still the same. Demand and supply are in balance. Secondary mill prices have increased in the last two to three days. Primary mills anticipate price changes in the following month.
Primary TMT News
- India's finished steel imports from China reached a 7-year high in the first five months of the 2024/25 financial year, according to provisional government data.
- The central steel ministry is now discussing potential trade measures in response to calls from domestic steel mills for protection against rising imports.
Expert Opinion
- It doesn't seem like the market is experiencing any changes in the demand pattern. The existing state of affairs indicates that the number of queries is not increasing. Although the demand appears to be stable, wholesalers were expecting a surge in demand after the monsoon. A clear picture is to be released in the first week of October.
Daily Market Report
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