Primary TMT Prices Steady Despite Anticipated Increases; Jindal Steel Invests in Green Hydrogen
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Primary TMT prices are stable, even though distributors expect price increases due to rising demand and material scarcity. In a significant development, Jindal Steel is investing in a major green hydrogen project in Odisha to cut emissions and boost sustainability in steel production.
Primary TMT Price
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 51,000-51,500/ton Ex-Delhi NCR: Rs. 51,000-51,500/ton Ex-Vizag: Rs. 49,500–50,000/ton
- Note - Distributors across North, West and South have increased prices. Above pricing is based on the same.
Primary TMT Demand and Supply
- Although the market prices appear to be constant, distributors anticipate price increases in the near future due to increased demand and material scarcity as a result of wagon allocation. While supply and demand are now stable, they could become less so in the days ahead.
Primary TMT News
- Jindal Steel invests heavily in Green Hydrogen with a new facility in Odisha.
- As per the agreement, JSPL plans to integrate green hydrogen into its direct reduced iron (DRI) units at its Angul facility in Odisha. This makes it the largest green hydrogen project in the Indian steel industry. In addition, the project will generate 36,000 tons oxygen annually, which will be supplied to the Angul steelworks.
Expert Opinion
- As the monsoon season draws to an end, there will be a rise in market demand in the upcoming weeks. Because of the current stagnant demand, prices are steady. Distributors anticipate higher prices from primary mills in the upcoming week. A clear picture will come in 4–5 days.
Daily Market Report
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