Primary TMT Prices Stabilize Amidst Slow Demand in May
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Key Takeaways
- TMT Prices Stable: Primary TMT prices in Mumbai, Delhi NCR, and Vizag remain unchanged, ranging from Rs 54,000 to Rs 58,000/MT.
- Demand Slows Down: Demand for TMT has stagnated, with fewer inquiries compared to last week, leading to a slower market pace.
- JSPL Reports Loss: Jindal Steel & Power Ltd. posted a Rs 339.4 crore loss in Q4 FY25, mainly due to exceptional charges related to overseas operations.
- Inventory Sufficient: Distributors have substantial stock, ensuring there are no concerns over material availability despite the slow market.
- Price Forecast Pending: Prices are expected to remain steady or potentially decrease, with a clearer outlook expected after the first week of May.
Primary TMT Prices
Prices are as follows :
- Ex-Mumbai: Rs. 57,500- 58,000/MT
- Ex-Delhi NCR: Rs.57,500 - 58,000/MT
- Ex-Vizag: Rs. 54,000- 54,500/MT
Note - Distributors across North, West and South have decreased the prices. Above pricing is based on the same.
Primary TMT Demand & Supply
Given the low volume of inquiries compared to the previous week, the market's demand appears to be stagnating. Since the prices are expected to open at the similar levels based on the existing trend. After the first week of May, a clear image will be available. Since the distributors have a sizeable amount of inventory, material availability is not an issue.
Primary TMT News
Jindal Steel & Power Ltd. (JSPL) reported a net loss of ₹339.4 crore for Q4 FY25, reversing from a profit of ₹935.4 crore in the previous year. The loss was mainly due to an exceptional charge of ₹1,229.5 crore related to overseas subsidiaries, including impairment provisions for mining assets in Australia and Madagascar, and a credit loss allowance for loans in Mauritius. Additionally, the company saw a 2.3% year-on-year decline in revenue to ₹13,183.1 crore, while EBITDA dropped by 7%, resulting in a narrower margin of 17.2%, down from 18.1% in Q4 FY24.
Expert Opinion
The demand in the market is slow as compared to month of April. The plants have not opened the prices. It is expected to come in a few days. The prices may remain the same as expected by distributors or may decrease. The inventory with the distributor is in ample amount. The clear picture may come in a few days.
Daily Market Report
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Primary TMT Market Update: Prices Drop Further Amid Flat Demand
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