Primary TMT Prices Slide Further as Demand Slows Across Regions

Key Takeaways

• Primary TMT Prices Down Nationwide: Ex-yard prices dropped across Delhi NCR, Mumbai, and Vizag, reflecting soft demand and regional pricing competition.
• Inventory Levels Stable: Distributors are well-stocked, avoiding any supply disruptions despite reduced buying interest.
• Demand Remains Weak: The overall market sentiment is cautious, with buyers delaying large orders amid expectations of further price drops.
• SAIL Delivers for Landmark Project: SAIL supplied 16,000 tonnes of steel for the Chenab Railway Bridge, including 5,922 tonnes of TMT bars.
• Further Corrections Expected: If demand continues to lag, more price cuts are likely in the primary and secondary TMT markets.

Primary TMT Prices

• Prices are as follows:
  1. Ex-Mumbai: Rs. 54,000- 54,500/ton 
  2. Ex-Delhi NCR: Rs.54,500 - 55,000/ton 
  3. Ex-Vizag: Rs. 51,500- 52,000/ton
• Note: Distributors across North, West and South have decreased the prices. Above pricing is based on the same.

Primary TMT Demand & Supply

• Aligned with broader market trends, pricing continued its downward trajectory, indicating ongoing weakness within the sector.
• From a supply perspective, sellers are responding to muted demand by adopting increasingly competitive pricing strategies. 
• At the same time, distributors are maintaining sufficient inventory levels, thereby supporting consistent product availability and mitigating the risk of supply chain disruptions.

Primary TMT News

• Steel Authority of India Ltd (SAIL) has supplied 16,000 tonnes of steel for the world’s tallest railway bridge, now standing proudly over the Chenab River in Jammu & Kashmir.
• Of this, 12,000 tons came from its flagship Bhilai Steel Plant, which provided 5,922 tons of TMT bars, 6,454 tons of steel plates, and 56 tons of structural steel.
• Inaugurated by Prime Minister Narendra Modi on June 6, 2025, the Chenab Railway Bridge rises 359 metres above the riverbed — taller than the Eiffel Tower — and is part of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) project. 
• Designed to enhance both civilian and defence connectivity to Kashmir, the bridge used over 29,000 metric tonnes of fabricated steel and is built to withstand wind speeds of 266 kmph and major earthquakes.
• This feat adds to Bhilai Steel Plant’s legacy, having supplied steel for projects like the Bandra-Worli Sea Link, Atal Setu, Sela Tunnel, and INS Vikrant.

Expert Opinion

• Amid a noticeable decline in demand, producers have begun implementing more substantial price reductions on a selective basis. If this subdued demand persists, further price decreases may be anticipated in the coming week. The downturn is apparent across both primary and secondary markets, reflecting a broad-based contraction in purchasing activity and heightened caution among buyers.
• On the supply side, conditions remain stable. Distributors possess adequate inventory to satisfy current demand, with no immediate concerns regarding supply shortages or logistical disruptions. Concurrently, manufacturers are receiving fewer new orders, indicating that production levels are being closely managed in alignment with reduced demand, thereby minimizing the risk of excess inventory or operational disruptions.