Primary TMT Prices Continue to Surge Amid Material Shortage
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Primary TMT prices in North, West and South have gone up, with further increases expected due to supply shortages and growing inquiries. Distributors predict stable prices this week, but demand may be affected by the festive season. Notably, the government has urged steelmakers to use iron ore fines for steelmaking to preserve high-grade reserves.
Primary TMT Price
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 52,00-52,500/ton Ex-Delhi NCR: Rs. 52,000-52,500/ton Ex-Vizag: Rs. 50,500–51,000/ton
- Note - Distributors across North, West and South have increased prices. Above pricing is based on the same.
Primary TMT Demand & Supply
- Distributors anticipate further price increases this week after the primary mills raised their pricing significantly last week. Since there is a shortage of material with distributors and an increase in the volume of inquiries since September, prices are expected to rise even more. However, the holiday season might negatively impact the demand trend.
Primary TMT News
- The Ministry of Steel has asked integrated steel players to use iron ore fines in steel making after its beneficiation to increase the usage of available raw materials. The government has also suggested that players look at options like acquiring coking coal mines abroad.
Expert Opinion
- Prices have gone up significantly, and it's anticipated that they will go up even more before the buyer accepts them in a few days.
- In the next few weeks, the demand pattern may become evident. Festive season might have an effect on market demand. In the upcoming months, there might also be significant material scarcity.
Daily Market Report
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