Primary TMT Prices Jump Across India – Supply Woes Continue
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Primary TMT prices have increased sharply across major markets due to supply shortages and distributor-led hikes. Prices in Mumbai, Delhi NCR, and Vizag have surged, with expectations of further increases. Global trade tensions, including US tariffs and rising Chinese imports, are adding pressure to the Indian steel industry. The market remains volatile, with demand still strong despite higher prices.
Key Takeaways
- Primary TMT Price Surge: Prices have risen significantly in March across Mumbai, Delhi NCR, and Vizag due to distributor-led increases and supply shortages.
- Market Instability: The ongoing material shortage is driving further price hikes, with expectations of continued increases throughout March.
- Global Trade Impact: The US has imposed 25% tariffs on steel and aluminum, affecting Canada, Mexico, China, and other key exporters.
- Price Outlook: Market conditions suggest further price increases, with limited supply continuing to drive volatility in the coming weeks.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm):
- Ex-Mumbai: Rs. 56,000-56,500/mt
- Ex-Delhi NCR: Rs.56,000-56,500/mt
- Ex-Vizag: Rs. 53,500 - 54,000/mt
- Note - Distributors across North, west and south have increased the prices. Above pricing is based on the same.
Primary TMT Demand & Supply
Prices have gone up significantly in the month of March. Due to substantial price increases by manufacturers and distributors, the market appears unstable. Due to the ongoing shortage of materials in the market, the distributors anticipate additional price increases in the days ahead.
Primary TMT News
- US President Trump has raised steel and aluminium tariffs to 25%, removing all exemptions. The move targets Canada, Mexico, China, and soon the EU, Brazil, and South Korea.
- The tariffs sparked global backlash, with Australia calling them “unjustified.” US markets fell, with the S&P 500 down 8%. While US steelmakers may benefit, economists warn of rising costs for manufacturers.
Expert Opinion
The market is seeing upward trends in both demand and pricing. The lack of material is affecting demand and supply, and this situation might continue throughout March. In the upcoming week, prices may rise even more.
Daily Market Report
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Primary TMT Prices Rise Sharply as Market Remains Unstable Amid Supply Shortages
Primary TMT prices have increased sharply across key markets, with distributors increasing rates due to persistent material shortages. Prices now stand at Rs 55,500-56,000/mt in Mumbai and Delhi NCR, and Rs 53,000-53,500/mt in Vizag. The market remains volatile, with expectations of further price hikes. Experts predict continued price increases in March due to supply constraints.
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Primary Structural Steel Prices Hold Firm as Demand Stays Strong
Structural steel prices remain steady across primary markets, with slight increases in select regions due to supply constraints. Heavy sections are facing production bottlenecks, leading to delivery delays and localized price hikes. The secondary market is witnessing cautious restocking, with mixed trends in demand across different regions. Buyers in both primary and secondary markets should plan purchases strategically to navigate price volatility.
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