Primary TMT Prices See Increment, Awaiting Further Price Hikes

Key Takeaways

• Primary TMT Price Increases: Prices in Mumbai, Delhi NCR, and Vizag have risen due to distributor price adjustments.
• Demand on the Rise: Both primary and secondary market prices and demand are up, with expectations of further increases.
• Ample Inventory: Distributors are not facing material shortages, with sufficient stock on hand.
• GTRI's Assessment: The think tank calls for a comprehensive review of safeguard duties, criticizing current import measures.
• Price Increase Expected: The market is seeing an upward trend, with price hikes of Rs 500-1000 per mt expected in the coming weeks.

Primary TMT Prices

• Prices are as follows :

• Ex-Mumbai: Rs. 52,000-52,500/mt
  

• Ex-Delhi NCR: Rs.52,000-52,500/mt
  

• Ex-Vizag: Rs. 51,000 - 51,500/mt

• Note - Distributors across North, West and South have decreased prices. Above pricing is based on the same.

Primary TMT Demand & Supply

The demand and prices have increased in both primary and secondary market. The prices by the distributors has increased by Rs 500 per mt and the distributors are expecting further increase in coming week. The material availability is not a concern as the distributors have ample amount of inventory on hand. The clear picture will come in a few weeks.

Primary TMT News

• GTRI has called for a thorough assessment of the Indian steel industry before imposing safeguard duties. The think tank criticized the ongoing safeguard investigation for focusing on steel products with minimal import increases and using inappropriate global safeguards. They emphasized that new measures should be based on a clear understanding of the current import regulations' impact on the industry and the broader economy.

• GTRI also highlighted the inefficiency of current import measures, such as the Quality Control Orders and Steel Import Monitoring System, recommending a simplification of processes. The report further noted that safeguard duties could harm MSME exporters, making domestic steel uncompetitive and affecting exports.

• The investigation into imports of steel flat products, initiated by the Directorate General of Trade Remedies (DGTR), has faced criticism for overlooking issues with FTAs and imports from China. GTRI warned that using global safeguards could lead to WTO challenges and stressed that the steel products targeted by the proposed duties are crucial to various sectors.

Expert Opinion

As the market signs shows upward trend because the enquiry flow has increased as compared to month of december.The plant will open rates in few day & its expected the price wil increase between 500-1000 per mt.The clarity will come by mid of january.