Primary TMT Prices Going Down Due to Low Demand During Monsoon
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Primary TMT prices are still showing downward trend across all primary mills in North, West and South. The demand is also not expected to increase until the monsoon lasts. Check the report for more Primary TMT market updates.
Primary TMT Prices
- Distributors across North, West and South are noticing the reduced prices across all primary mills. Given-below are the current prices:
- Ex-Mumbai: Rs. 51,000-51,500/ton
- Ex-Delhi NCR: Rs. 51,00-51,500/ton
- Ex-Vizag: Rs. 50,500 -51,500/ton
Primary TMT Demand and Supply
- According to market trends, demand is not expected to rise until the moonsoon lasts. It is anticipated there will be a rise in market demand in the coming months. There is a sufficient inventory available with the distributors allowing them to bargain. This also raises chances of more plant price reductions. The buyers are holding out their Primary TMT purchase decisions for further discounts.
Primary TMT News
- NMDC Steel hits 1 million tonne liquid steel output.
- NMDC Steel Limited (NSL) on Thursday said, “It has hit a production of 1 million tonnes of liquid steel within just one year of starting operations and is now gearing up to hit a production of 1 million tonnes of hot rolled (HR) coils by August 23, 2024.”
- Since its first blow-in of the blast furnace, the company has achieved a cumulative production of 1.5 million tonnes of hot metal by July 21, 2024, and 1 million tonnes of hot metal in just 226 days.
- The public sector enterprise under the Union steel ministry, which is the newest entrant in the country’s PSU steel manufacturing, operates a 3 million tonnes per annum. The steel plant has been built at an investment of Rs 22,900 crore at Nagarnar in Chhattisgarh. The plant is strategically located nearly 100 km from NMDC’s Bailadila iron ore mines.
- The plant has been built with an eye on supplying critical steel needed for building bridges and ships to automobiles and military equipment.
Expert Opinion
- There is no supply and demand issue in Primary TMT market because all of the primary mills are running. The market is experiencing extremely low demand, however, improvements are anticipated in the upcoming months. Due to the monsoon, flow inquiries are at their lowest point. It is anticipated that the mill would further reduce rates this month, and the distributors are willing to bargain over price thus consumers are holding out for more price cuts.
Daily Market Report
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