Primary TMT Prices Hold Steady Amid Uncertain Demand
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The current TMT prices across major regions remain stable despite rising expectations of further increases from distributors. Meanwhile, the Central government has sanctioned three pilot projects under the National Green Hydrogen Mission aimed at using hydrogen in steel production.
Key Takeaways
- Distributors expect another price increase, which could affect order placement.
- The market is reacting cautiously due to uncertainty in demand and pricing.
- Hydrogen pilot projects signal a potential shift towards greener practices in steel production.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 54,500-55,000/ton Ex-Delhi NCR: Rs. 54,500-55,000/ton Ex-Vizag: Rs. 52,500 - 53,000/ton
- Note - Distributors across north, west and south have increased prices. Above pricing is based on the same.
Primary TMT Demand & Supply
- It was anticipated that the market would demonstrate growing demand, but this hasn't occurred. The distributors anticipate one more price rise. Distributors are stockpiling merchandise in a market that is expanding, hoping for higher profits. It will be evident in two or three days how much it will cost.
Primary TMT News
- As part of National Green Hydrogen Mission, the Central government has sanctioned three pilot projects for use of hydrogen in steel production. The objectives of the scheme were to identify advance technologies for utilizing green hydrogen in steelmaking, through pilot projects.
Explore more industry updates and primary TMT news here!
Expert Opinion
- An unstable market may be indicated by the regularity of price changes. During the previous two to three weeks, prices have been on the rise. Expecting future price reductions, the purchasers are not placing orders and are unwilling to accept price increases. Order conversion is low despite an increase in inquiries, since price acceptance has not yet been demonstrated by the market. Additional price increases are anticipated by the distributors.
Daily Market Report
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