Primary TMT Prices Steady; Steel Ministry Seeks Action on Rising Chinese Imports
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Primary TMT prices in Mumbai and Delhi NCR range between Rs. 51,000-51,500/ton, while Vizag prices are slightly lower. Distributors expect price hikes soon due to rising demand and limited supply. Moreover, India is concerned about rising steel imports from China, and the steel ministry is in talks to address the issue.
Primary TMT Price
- Prices are as follows (size 12 to 32 mm: 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 market pricing seems stable, distributors expect price hikes in the near future because of rising demand and limited supply because of wagon allocation. In the foreseeable future, supply and demand may not be equal, even if they are now.
Primary TMT News
- President of the Indian Stainless Steel Development Association (ISSDA) Rajamani Krishnamurti said they have submitted a fresh request to the Government to undertake safeguard measures to protect the stainless steel industry.
- Steel Minister H.D. Kumaraswamy said that the steel ministry is in talks with the finance ministry to address the issue of rising imports of steel from China.
Expert Opinion
- Over the next few months, market demand is expected to increase as the monsoon season comes to an end. Prices are stable as a result of the current stagnating demand. In the following week, distributors expect higher prices from primary mills.
Daily Market Report
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