Primary TMT Prices Remain Steady as Demand Faces Challenges
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Primary TMT prices have remained relatively stable across key regions like Mumbai, Delhi, and Vizag, despite price hikes from distributors. Demand in the market is sluggish, with low inquiries and even lower conversion rates, as buyers focus more on negotiating prices than on making purchases. Meanwhile, the Indian government is addressing rising steel imports.
Key Takeaways
- Price Overview: Prices have increased across North, West, and South regions due to revisions by distributors.
- Demand & Supply Dynamics: Low inquiry volume and a lack of conversion indicate stagnation in demand.
- Outlook: Despite anticipation of a price hike due to plant maintenance, the demand remains moderate and no immediate demand growth is expected.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 55,500-56,000/mt Ex-Delhi NCR: Rs. 55,500-56,000/mt Ex-Vizag: Rs. 53,500-54,000/mt
- Note - Distributors across North, West and South have increased prices. Above pricing is based on the same.
Primary TMT Demand & Supply
- The market seems to be stagnating as a result of the low number of inquiries and the low conversion rate brought on by purchasers who are just interested in haggling and not making inquiries. The distributors have a lot of material at their disposal, thus they are prepared to negotiate substantial prices.
Primary TMT News
- Union Steel Minister H D Kumaraswamy assured the government is working to tackle issues related to rising steel imports, including concerns over substandard materials from certain countries.
- India's steel imports surged nearly 50% to 5.51 MnT in April-September FY25, compared to 3.66 MnT in the same period last year, with China contributing 1.85 MnT, up from 1.02 MnT.
Expert Opinion
- The distributors anticipated a price increase due to maintenance being done on the SAIL ISP plant, but demand seems to be moderate and there are no issues with material availability. So, demand growth has slowed. It seems that supply and demand are in balance. And, demand is not expected to increase at this time.
Daily Market Report
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