Primary TMT Market Strong as Distributors Hike Rates Across Key Markets
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Primary TMT prices increased across North, West, and South India, with Mumbai and Delhi NCR rates touching Rs 52,500/MT. Demand is expected to grow by 8-9% in 2025, driven by infrastructure and construction projects. However, competitive imports, especially from China, continue to challenge domestic manufacturers. Experts warn that market volatility and imports may impact pricing, making government intervention crucial for industry stability.
Key Highlights
- Price Trends: Distributors increased TMT prices across key regions, with rates reaching Rs 52,500/MT in Mumbai and Delhi NCR.
- Demand Growth: India’s TMT demand is projected to grow by 9% CAGR, reaching an $18 billion market in five years.
- Import Pressure: Rising imports, especially from China, are impacting domestic production and pricing in the TMT segment.
- Green Steel Policy: Japan is incentivizing clean steel use in vehicles with a 50,000 yen ($330) subsidy, pushing for greener manufacturing.
- Expert Outlook: Government protection is needed to stabilize the TMT market, counter import pressures, and support domestic growth.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm):
- Ex-Mumbai: Rs. 52,000-52,500/mt
- Ex-Delhi NCR: Rs.52,000-52,500/mt
- Ex-Vizag: Rs. 51,000 - 51,500/mt
- Note - Distributors across North, West and South have increased the prices. Above pricing is based on the same.
Primary TMT Demand & Supply
- Domestic demand for steel is expected to grow by 8-9% in 2025, driven by the rising construction and infrastructure projects. However, the demand growth is countered by competitive imports, especially from China, which is significantly affecting domestic production and pricing.
- As the construction industry picks up, the TMT segment is expected to grow steadily, with the market projected to reach $18 billion in the next five years at a 9% CAGR.
Primary TMT News
Japan is incentivizing green steel by offering a 50,000 yen ($330) subsidy for clean energy vehicles (CEVs) made with low-emission steel. This adds to existing subsidies for electric and hybrid vehicles. The initiative aims to push automakers to use green steel, but its success depends on clear carbon accounting and industry adoption. With Japan’s steel sector heavily reliant on coal-based blast furnaces, these incentives could drive a shift toward cleaner production methods.
Expert Opinion
- Volatility in raw material prices and the increasing influx of imports are significant challenges for domestic manufacturers. The government’s protective measures will be essential in ensuring the health of the TMT steel industry, allowing it to capitalize on the growing demand for construction and infrastructure development.
- In conclusion, while there is optimism for growth in the TMT steel market due to infrastructure development, the sector is under pressure from imports, particularly from China. The government's potential intervention with safeguard duties is a crucial factor in securing the market’s future stability.
Daily Market Report
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