Primary TMT Prices Stay High Despite Slowing Demand
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Primary TMT prices remain elevated across major cities due to constrained supply from ongoing and upcoming maintenance shutdowns at key plants like SAIL DSP and Dolvi. Demand, however, is showing signs of decline, with significantly fewer inquiries compared to March. The government has imposed a 12% safeguard duty to protect local mills.
Key Takeaways
- TMT prices stay strong: Prices remain in the Rs 54,500–58,500/MT range, supported by restricted availability and regional price hikes.
- Demand clearly softening: A sharp drop in inquiries is signalling market weakness, especially compared to March activity.
- Maintenance squeezes supply: Shutdowns at SAIL DSP and soon Dolvi plant are lowering overall productions temporarily.
- India adopts green steel: Epic Group's net-zero plant in Bhubaneswar received its first low-emission TMT bars from ARS Steel, marking a step toward sustainable construction using green steel made from recycled materials and renewables.
- Govt intervenes with duties: A 12% safeguard duty on select steel products, including TMT bars, will stay for 200 days to curb imports.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm):
- Ex-Mumbai: Rs. 58,000- 58,500/MT
- Ex-Delhi NCR: Rs.58,000 - 58,500/MT
- Ex-Vizag: Rs. 54,500- 55,000/MT
- Note - Distributors across North, West and South have increased the prices. Above pricing is based on the same.
Primary TMT Demand & Supply
The decline in inquiry volume suggests a slowdown in market demand. However, limited material availability is keeping prices high despite fewer inquiries. A market shortage is expected, as the SAIL DSP facility is currently under maintenance, and the Dolvi plant is also scheduled for maintenance soon, which will reduce material production below normal levels.
Primary TMT News
- The Epic Group's net-zero plant in Bhubaneswar, Odisha, has received its first low-emission TMT bars, marking a major milestone in sustainable construction. Supplied by ARS Steel in collaboration with sentra.world, these green steel bars are produced using recycled materials and renewable energy, significantly lowering the carbon footprint of large-scale infrastructure projects and promoting eco-friendly building practices in India.
- To protect local mills from surging imports, India also imposed a 12% safeguard tariff on certain steel products, including TMT bars, for 200 days—earning support from domestic producers like JSW Steel.
Expert Opinion
- Observing the current market dynamics, it is anticipated that prices will experience a downward trend in the coming days, primarily driven by a noticeable decline in demand. In particular, the number of inquiries has significantly reduced when compared to the levels seen in March, indicating a softening of market activity. This tapering of interest suggests that the subdued demand may persist for some time.
- As the market continues to adjust, greater clarity is expected to emerge in the next few days, which will provide a more comprehensive understanding of the direction in which prices are heading. Overall, the current indicators strongly point toward an imminent decrease in pricing.
Daily Market Report
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