Primary TMT Prices Rise Amid Strong Domestic Consumption
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India’s primary TMT prices have increased across key regions, with distributors in the North, West, and South raising prices. The market is being shaped by rising steel imports, which surged 15.8% year-on-year, leading to a proposed 12% safeguard duty. Despite falling exports (-33.7%), strong domestic consumption (+11.3%) continues to support market stability.
Key Takeaways
- Primary TMT Prices Increase: Distributors in North, West, and South have raised prices, impacting key markets like Mumbai, Delhi NCR, and Vizag.
- Steel Imports Surge: India's steel imports rose 15.8% year-on-year to 8.98 million mt during April-February, with Japan’s exports to India jumping 70%.
- Government Policy Response: A 12% safeguard duty is proposed for 200 days to counter rising imports and protect domestic production.
- Steel Exports Decline: India’s steel exports dropped 33.7% during April-February, mainly due to stricter EU import rules, affecting outbound shipments.
- Domestic Demand Growth: Finished steel consumption rose 11.3%, helping stabilize the market despite lower exports.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm):
- Ex-Mumbai: Rs. 57,000- 57,500/mt
- Ex-Delhi NCR: Rs.57,000 - 57,500/mt
- Ex-Vizag: Rs. 56,000 - 56,500/mt
- Note - Distributors across North, West and South have increased the prices. Above pricing is based on the same.
Primary TMT Demand & Supply
As of April 2025, the global steel industry is experiencing a complex mix of growth and challenges, influenced by regional dynamics and broader economic factors.
Primary TMT News
- India's finished steel imports surged 15.8% year-on-year to 8.98 million mt during April-February, making the country a net importer for 2023-2024. South Korea remained the top supplier, while Japan's exports to India saw a sharp 70% rise. In response, India proposed a 12% safeguard duty for 200 days to curb imports.
- Meanwhile, India's steel exports fell 33.7%, with Italy as the top destination, though shipments to Europe declined due to stricter EU import rules. Despite this, strong domestic demand—reflected in an 11.3% rise in finished steel consumption—may help offset export losses. Crude steel production increased by 5.2% to 138.2 million mt during the period.
Expert Opinion
India exhibits significant growth in steel production and demand. The global steel industry continues to navigate a landscape marked by economic uncertainties, trade tensions, and evolving demand patterns.
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