Primary TMT Prices Remain Strong Amid Maintenance Shutdown and Growing Demand
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Primary TMT prices have risen due to supply shortages from SAIL’s ISP plant maintenance, affecting supply across key regions. Increased demand and limited availability have led distributors to anticipate further price hikes by mid-November.
Key Highlights
- Price Increases: Primary TMT prices rose as distributors in North, West, and South adjusted rates due to material scarcity and rising demand.
- Supply Constraints from SAIL Maintenance: SAIL’s maintenance at the ISP plant limits supply, driving prices up; distributors anticipate additional hikes by mid-November.
- Posco-JSW Venture to Boost Capacity: Posco-JSW’s Odisha venture marks India’s expanding steel capacity, targeting to support infrastructure and sustainable growth.
Price
- Primary TMT Prices (Size 12 to 32 mm) 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 regions have increased prices. The above pricing reflects these changes.
Primary TMT Demand & Supply
- Primary TMT manufacturers have increased prices over the past 2-3 days. Material scarcity has arisen due to maintenance work at the SAIL ISP plant. Demand has increased in October, and distributors expect further price hikes by mid-November.
Steel Industry News
- Posco’s joint venture with JSW highlights steel's critical role in India’s growth story. This collaboration aims to develop a 5-million-tonne integrated plant in Odisha, focusing on sustainable energy solutions. With a projected infrastructure-led boom, India’s steel industry anticipates a 130-million-tonne capacity expansion, underscoring its potential as a global steel powerhouse.
Primary TMT Expert Opinion
- The initial market trend shows a significant material shortage and rising prices. Demand is expected to stabilize in the next four to five days. During the SAIL facility maintenance, distributors are likely to hold firm on pricing, increasing dependence on alternative brands.
Daily Market Report
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