Primary TMT Prices Hold Firm Despite Demand Dip and Supply Crunch
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Primary TMT prices remain steady across major regions despite a slowdown in demand post-March and supply disruptions caused by Tata Steel’s ongoing plant maintenance. Distributors have hiked prices in North, West, and South India, maintaining elevated rates. With production constraints expected to persist, material shortages could continue well into May.
Key Takeaways
- Stable Prices: Primary TMT prices are currently holding at Rs 58,500–59,000/MT in Mumbai and Delhi NCR, and Rs 55,500–56,000/MT in Vizag.
- Low Demand: Demand has fallen sharply as buyers closed books in March and have not resumed purchases at the same pace.
- Supply Constraints: Tata Steel’s ongoing maintenance has limited availability in the market, causing a shortage among distributors.
- Tata Steel Update: Despite lower Q4 production due to furnace relining, Tata posted record domestic deliveries. European output rose while UK operations stayed weak.
- Outlook: Supply tightness is expected to persist till May; demand recovery may depend on construction activity and inventory cycles.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm):
- Ex-Mumbai: Rs. 58,500 - 59,000/MT
- Ex-Delhi NCR: Rs.58,500 - 59,000/MT
- Ex-Vizag: Rs. 55,500 - 56,000/MT
- Note - Distributors across North, West and South have increased the prices. Above pricing is based on the same.
Primary TMT Demand & Supply
In March, buyers closed their books, therefore the market's demand has dropped since then. The market is experiencing a shortage of materials due to the Tata plant which is under maintainenance.
Primary TMT News
- Tata Steel posted record domestic deliveries in Q4FY25, though production fell due to maintenance work. Shares dropped nearly 8% amid a broader metals selloff.
- India’s crude steel output in Q4 was 5.51 mt, down 3.2% QoQ due to relining at the Jamshedpur “G” blast furnace, but up 2% YoY. FY25 production rose 5% to 21.8 mt, supported by the new Kalinganagar blast furnace and improved output at Neelachal Ispat Nigam.
- In Europe, Tata Steel Netherlands saw FY25 production and deliveries rise to 6.7 mt and 6.2 mt, respectively. UK operations stayed weak, with deliveries falling to 2.5 mt due to blast furnace closures since Q2.
Expert Opinion
As market trends indicate, demand is sharply down, and supply is impacted due to a shortage of materials with the distributor. This is expected to continue to be a problem until May.
Daily Market Report
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