Primary TMT Prices Slip Again as Demand Remains Tepid

Key Takeaways

• TMT Prices Dip Across Regions: TMT base prices have softened in Mumbai, Delhi NCR, and Vizag, with distributors slashing rates further. 
• Demand Plateaus: Inquiry levels remain steady but weak, with no significant uptick in buying activity this week. 
• Supply Remains Unaffected: Distributors are well-stocked, and supply chains continue to operate without strain or disruption. 
• Manufacturers Offer Deeper Discounts: Sluggish orders are prompting mills to negotiate harder and cut rates based on volume. 
• Green Steel Breakthrough: ARS Steel supplies India’s first ultra-low emission TMT bars, signalling a move toward sustainable production.

Primary TMT Prices

• Prices are as follows (size 12 to 32mm):
• Ex-Mumbai: Rs. 56,750- 57,000/MT 
• Ex-Delhi NCR: Rs.57,000 - 57,500/MT 
• Ex-Vizag: Rs. 53,500- 54,000/MT 
• Note: Distributors across North, West and South have decreased the prices. Above pricing is based on the same.

Primary TMT Demand & Supply

• Overall, inquiry volumes in this week have remained largely stable. This suggests that market demand is relatively consistent, with no definitive indications of either expansion or contraction. In alignment with broader market conditions, pricing has continued to decline, underscoring persistent weakness within the sector.
• On the supply side, vendors are responding to subdued demand by implementing more competitive strategies. Concurrently, distributors maintain adequate inventory levels, thereby ensuring stable material availability and mitigating the risk of any supply chain disruptions.

Primary TMT News

• India has marked a major milestone in sustainable construction with the first supply of ultra-low emission TMT bars to Epic Group’s upcoming net-zero facility in Bhubaneswar. Supplied by ARS Steel and supported by sustainability-tech firm sentra.world, the TMT bars are made from 98% recycled steel using renewable energy and no fossil fuels, achieving an emission intensity of just 0.59 tCO₂/tfs — four times lower than the national average of 2.5 tCO₂/tfs. This not only qualifies ARS for India’s 5-star green steel rating but also helps Epic cut building emissions by 20%, signalling a significant shift toward electric arc furnace-based green steel production.

Expert Opinion

• In response to a pronounced decline in demand, manufacturers have enacted more substantial price reductions, depending on order to order basis. Should this subdued demand persist, further downward pressure on pricing is anticipated in the coming week. The deceleration is evident across both primary and secondary markets, signalling a widespread contraction in purchasing activity and a more cautious approach among buyers.
• From a supply perspective, conditions remain stable. Distributors are currently holding sufficient inventory to meet prevailing requirements, with no indications of shortages or logistical strain. Concurrently, production facilities are experiencing a limited influx of new orders, suggesting that supply levels are appropriately aligned with the reduced demand and that there are no immediate risks of disruption or stock depletion.