Primary TMT Market Update: Prices Rise amid Increasing Demand; Distributors Expect Further Hikes
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Primary TMT prices in major cities remain stable with SAIL increasing prices by Rs 500/ton. Distributors expect further price hikes in the coming days due to rising demand and steady supply. Meanwhile, domestic steel makers have cut prices to protect their market share from rising imports.
Primary TMT Price
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 51,500-52,000/ton Ex-Delhi NCR: Rs. 51,500-52,000/ton Ex-Vizag: Rs. 50,000–50,500/ton
- Note - Distributors across North, West and South have increased prices. Above pricing is based on the same.
Primary TMT Demand & Supply
- SAIL has increased its price by Rs 500/ton. The market is trending upward as more inquiries are coming in over the past two to three days. Both supply and demand appear steady. In a few days, the distributors anticipate another price increase. In 2-3 days, there will be price stability.
Primary TMT News
- Indian steel makers have cut steel prices to protect their market share against rising imports. Hot-rolled coil (HRC) prices dipped to their lowest in the last four years to Rs 47,100/ton this month after falling 5% compared to August.
Expert Opinion
- The situation indicates that prices for primary and secondary TMT mills have grown. In a few days, distributors anticipate another increase. The demand pattern will determine price stability.
Daily Market Report
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