Primary TMT Prices Remain Strong as Supply Shortage Continues
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252Ftmt_3_12022529ce.png&w=1920&q=100)
Primary TMT prices remain strong, driven by ongoing supply shortages. Distributors report rising demand and anticipate further price increases. The Indian government may implement stricter import regulations to curb substandard steel imports, particularly from China, which could further impact supply dynamics and maintain upward pressure on domestic steel prices.
Primary TMT Price
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 54,500-55,000/ton Ex-Delhi NCR: Rs. 54,500-55,000/ton Ex-Vizag: Rs. 52,500-53,000/ton
- Note: Distributors across North, West, and South have increased prices, reflected in the above pricing.
Demand & Supply
- Prices from plants increased significantly last week and continue to rise. Material shortages are causing disruptions in supply and demand patterns among distributors. Further price increases are expected in the coming days as demand trends continue to strengthen. The market is experiencing price fluctuations, but a clearer picture should emerge within the next few days.
News
- The Indian government is set to tighten steel quality norms as substandard imports rise, particularly from China. A recent review by the Ministry of Steel revealed that India imported 3.45 million tonnes (mt) of steel from April to August, compared to just 1.92 mt exported. Officials aim to curb imports of non-BIS-compliant steel, valued at Rs. 4,200 crore annually, by limiting no-objection certificates (NOCs) only to grades not locally produced. Currently, 1,127 out of 1,279 steel grades are allowed with NOCs, despite quality control orders. This step mirrors protective measures in the US, EU, and Canada, where a 25% safeguard duty is levied.
Expert Opinion
- Distributors anticipate significant price increases in the coming weeks. With rising demand, material shortages are expected to impact both supply and demand over the next few weeks, potentially resulting in further price surges.
Daily Market Report
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252Fstructure_632815b169.png&w=3840&q=75)
Structure Market Stable with Improved Primary Supply and Expected Demand Rise
Structure prices in the secondary market showed mixed trends, with Raipur and Mandi prices declining, while other regions remained stable. The primary market saw price adjustments this month, with SAIL and RINL reducing rates. Improved supply from SAIL IISCO and RINL facilities, combined with government interventions, is expected to address supply issues and gradually boost demand.
Read Story
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252Fstructure_4010d97e42.png&w=3840&q=75)
Primary Structure Supply Strengthens as Secondary Market Prices Rise Amid Rising Demand
The structure steel market sees mixed trends with stable to rising secondary market prices, while primary markets face price reductions. SAIL, JSPL, and RINL adjust pricing amidst supply and demand challenges. Meanwhile, environmental regulations threaten Tata Steel's Dutch operations, adding uncertainty to the global supply chain.
Read Story
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FTMT_Fe_550_D_d1944141c6.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252F16493_1317_image_0_d2f7b743ad.jpg&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252Fhot_rolled_steel_coil_roll_o0_Q4an9_600_fe306f6654.jpg&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FCRC_cec6577b20.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FHR_Plate_4c9d03721e.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fbg-png-msite.png&w=3840&q=30)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fved.png&w=128&q=75)