Primary TMT Prices Rise Amid Supply Shortages, Distributors Brace for Further Hikes
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Primary TMT prices increased to Rs. 54,500-55,000/ton in Mumbai and Delhi NCR and Rs. 52,500-53,000/ton in Vizag, as distributors raised rates due to shortages in material supply. With SAIL announcing a price hike of Rs. 500/ton, the market is anticipating further increases in the coming days.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 54,500-55,000/ton Ex-Delhi NCR: Rs. 54,500-55,000/ton Ex-Vizag: Rs. 52,500–53,000/ton
- Note - Distributors across North, West and South have increased prices. Above pricing is based on the same.
Primary TMT Demand and Supply
- Prices are increasing on a regular basis. The plants have increased rates substantially in 3-4 days. SAIL has announced price hike of Rs 500/ton. The distributors are facing shortage of material and it has disrupted supply and demand pattern. The distributors are anticipating further price rise in a few days. The demand pattern has shown an uptrend in the last week. Prices are unstable in the market and a clear picture will come in few days.
Primary TMT News
- SAIL director S Viswanatha Raju advocates RINL merger to ensure viability of Visakhapatnam Steel Plant.
- He highlighted that the merger of RINL and SAIL will help reduce the production cost of steel by Rs 10,000 per ton. State MPs and MLAs also attended the meeting.
- The SAIL independent director praised the efforts of VSP Protection Committee to ensure that its protests against privatisation of the steel plant does not disrupt VSP production.
Expert Opinion
- The distributors are anticipating further price in the coming weeks. Demand has increased but material shortage is a concern and will impact demand & supply pattern in the coming months. The festive season will impact the demand pattern.
Daily Market Report
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