Primary TMT Prices Rise Amid Strong Demand; More Hikes Expected
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Key Takeaways
- TMT Prices Rise: Top mills have increased rates. Prices in Mumbai & Delhi NCR are at Rs 51,500-52,000/MT, while Vizag is at Rs 50,000-50,500/MT.
- Market Demand Steady: Inquiries have surged since January, indicating potential further price increases.
- Steel Industry Growth: Rs 26,000 crore investment in Jharkhand, with major projects in special steel and rolling mills.
- Expert Outlook: Market excitement is building, with more price shifts expected by mid-February.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm):
- Ex-Mumbai: Rs. 51,500-52,000/mt
- Ex-Delhi NCR: Rs.51,500-52,000/mt
- Ex-Vizag: Rs. 50,000 - 50,500/mt
- Note - Distributors across North, West and South have increased the prices. Above pricing is based on the same.
Primary TMT Demand & Supply
The market demand appears to be steady, though the top mills have raised their prices. Since January, there has been an uptick in inquiries, as there are signs that these mills might increase their prices again. Nevertheless, the equilibrium between supply and demand is stable, with distributors possessing adequate inventory to fulfill market requirements.
Primary TMT News
Jharkhand received Rs 26,000 crore in investment proposals at the Bengal Global Business Summit, with half focused on the steel sector. Supreme Metals Export plans a Rs 3,000 crore steel plant, and Voltox Rail aims to invest Rs 4,000 crore in special steel, together creating 3,500 jobs. BMW Industries plans a Rs 1,100 crore Cold Rolling Mill, generating 1,500 jobs, while Rashmi Metaliks proposes a Rs 3,800 crore investment with 3,000 job opportunities.
Expert Opinion
The market is filled with enthusiasm, with both price levels and inquiries soaring since January. The balance between demand and supply remains robust. So, there’s a noticeable air of excitement. By the second week of February, we should anticipate a more defined and thrilling view of the market emerging, with opportunities and changes unlike we have seen before.
Daily Market Report
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