Primary TMT Prices Remain Strong; SAIL Partners with BHP for Steel Decarbonisation
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Primary TMT prices surged last week, with Mumbai, Delhi NCR, and Vizag seeing rate hikes. Distributors anticipate further price hikes due to inventory shortages and rising demand. Meanwhile, SAIL partnered with BHP to promote decarbonisation in steelmaking.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 52,00-52,500/ton Ex-Delhi NCR: Rs. 52,000-52,500/ton Ex-Vizag: Rs. 50,500–51,000/ton
- Note - Distributors across North, West and South have increased prices. Above pricing is based on the same.
Primary TMT Demand and Supply
- The primary mills hiked their pricing dramatically last week, and distributors expect more price hikes this week as well. Pricing increases are anticipated since wholesalers are experiencing a scarcity of inventory and a spike in requests since September. Pricing stability is expected this week. Additionally hurting the demand trend will be the holiday season.
Primary TMT News
- SAIL and BHP have decided to collaborate to boost steel decarbonisation in India. SAIL said the move is an important step in promoting lower carbon steelmaking technology pathways for the blast furnace route in the country.
Expert Opinion
- The price increases are expected to continue before the buyer accepts them in a few days, as they have already increased dramatically. The demand trend could be apparent in the next few weeks. The market demand may be impacted over the festive season. Substantial material shortage is expected in the coming weeks.
Daily Market Report
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Primary TMT Demand Heats Up; Price Increase Expected in January 2025
TMT prices have seen an uptick in recent days, driven by increased demand and a material shortage. Prices in the primary segment have risen by Rs 500-1000/mt, with further increases expected in January. The market shows positive signs, but a clearer picture will emerge after the first week of January.
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Structure Update: Secondary Market Stable; Demand Remains Unsupported, Primary Stable
The secondary market remains stable with no significant changes, although demand remains weak. The primary market is stable, with SAIL, JSPL, and RINL adjusting prices. Supply issues are being resolved, with improved availability expected by the month's end.
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