Primary TMT Prices Down Across India, Further Decline Expected in December
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Primary TMT prices have declined across key regions, with distributors reducing prices slightly due to inventory build-up. Market demand is steady, but prices may drop further in December depending on query trends and distributor negotiations. The Ministry of Steel’s proposed 25% safeguard duty on steel imports could impact domestic pricing.
Key Takeaways
- Price Decline: Primary TMT prices decline across the country with prices in Ex-Mumbai and Ex-Delhi NCR at Rs 53,000-53,500/mt, while Ex-Vizag price is at Rs 52,500-53,000/mt.
- Demand & Supply: Steady demand with balanced supply as distributors hold significant inventory. Market clarity is expected by early December.
- Safeguard Duty Proposed: Rising imports, especially duty-free ones under FTAs, have led to a proposed 25% safeguard duty to protect domestic producers.
- Further Price Drop Expected: Prices are anticipated to drop further, with trends depending on demand patterns and query volumes in the coming weeks.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 53,000-53,500/mt Ex-Delhi NCR: Rs.53,000-53,500/mt Ex-Vizag: Rs. 52,500 - 53,000/mt
- Note - Distributors across North, West and South have decreased prices. Above pricing is based on the same.
Primary TMT Demand & Supply
- In November, demand remained constant, and it is expected that prices would drop in December as well. The number of queries will decide the market's future, and the distributors are willing to haggle over rates. Demand and supply seem to be balanced because the distributors have a lot of inventory. A comprehensive picture of the demand will be clear after the first week of December.
Primary TMT News
- The Ministry of Steel has proposed a 25% safeguard duty on certain steel imports to protect domestic producers from rising competition. Imports surged to 5.51 million mt in April-September 2024-25, with 62% arriving duty-free under FTAs.
- Key concerns include increased imports from China and regulatory delays affecting steel users. The government aims to boost domestic production and competitiveness while addressing industry challenges.
Expert Opinion
- The main and secondary mills will start to open up their prices in the first week of December. Market discussions indicate that prices will decline even further than they did in November. The demand pattern and the flow of queries will reveal if the market is experiencing a price decline or an increase.
Daily Market Report
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