Primary TMT Prices Rise Across Regions as Distributors Brace for Demand Surge
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Primary TMT prices increased in Mumbai, Delhi NCR, and Vizag. Distributors raised rates anticipating a rise in demand. The market is expected to stabilize in the coming week. Meanwhile, a new PLI scheme for speciality steel is being planned after low response to the first round.
Primary TMT Price
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 51,500-52,000/ton Ex-Delhi NCR: Rs. 51,500-52,000/ton Ex-Vizag: Rs. 50,000–50,500/ton
- Note - Distributors across North, West and South have increased prices. Above pricing is based on the same.
Primary TMT Demand and Supply
- The price increase by SAIL in the last two days suggests that the market is unstable. The distributors anticipate a rise in demand while maintaining their rates. The pricing will become clear in two to three days. Pricing will be determined by the demand pattern. It will stabilize in the coming week.
Primary TMT News
- The government is planning another round of the Production-Linked Incentive (PLI) scheme for speciality steel as the response for the first round of the initiative did not meet expectations.
- In his address, Steel Secretary Poundrik said speciality steel remains an area where more is needed to be done.
Expert Opinion
- Prices at the primary mills have gone up within the last two to three days. Issues with material availability affect the distributors. While the volume of inquiries is unchanged, prices are trending upward. In the coming week, the demand and price patterns may become evident.
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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