Primary TMT Prices Anticipated to Revise Soon
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TMT prices remain stable, with a decline expected soon. Distributors report reduced prices across primary mills. Demand is stagnant, but price revisions and rising demand are anticipated post-monsoon. NMDC Steel Limited has produced 1 million tonnes of HRC at its Nagarnar plant, marking a significant milestone for the company.
Price
- The prices of primary TMT remain stable; however, a revision is expected soon by month end. The current prices for major locations are as follows:
- Ex-Mumbai: Rs. 50,500-51,000/ton
- Ex-Delhi NCR: Rs. 50,500-51,000/ton
- Ex-Vizag: Rs. 49,000-49,500/ton
- The prices are for 12 to 32mm sizes, Grade Fe 550/550D and exclude trade discounts, as well as GST.
- Distributors across the North, West, and South have observed reduced prices from all primary mills. The above pricing reflects this trend.
Demand and Supply
- There has been no shift in the demand pattern as of the final week of August. Demand remains stagnant, and further price cuts are anticipated in the upcoming week. Distributors are prepared to negotiate on prices and have sufficient stock on hand, while buyers continue to haggle. All primary mills are operational. Demand is expected to rise in the coming months as the monsoon season draws to a close.
News
- NMDC Steel Limited (NSL) has produced 1 million tonnes of hot rolled coil (HRC) within a year at its Nagarnar plant in Chhattisgarh, marking a significant achievement for the state-owned company. The plant, part of the 3 million-tonne Nagarnar Steel Plant, was established with an investment of approximately Rs 23,000 crore. NSL reached this milestone just four days before the first anniversary of HR coil production. CMD Amitava Mukherjee praised the team’s dedication, emphasizing the achievement's significance in the PSU sector and industry benchmarks.
Expert's Opinion
- Distributors anticipate price increases in the upcoming month due to the end of the monsoon season. With the expectation of rising demand in the coming months, primary mills are likely to raise prices in September. Currently, distributors face no issues with supply or demand, although further price reductions are expected by the end of August.
Daily Market Report
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Primary TMT prices remained stable in the last week of August, with Mumbai and Delhi NCR prices at Rs. 50,500-51,000/ton and Vizag at Rs. 49,000-49,500/ton. Distributors anticipate increased demand as the monsoon ends, potentially leading to price hikes in September.
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