Primary TMT Prices Surge Amid Supply Constraints and Maintenance Shutdowns
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The primary TMT market is witnessing a significant rise in prices as distributors across North, West, and South India adjust rates amid supply constraints. With SAIL's plant undergoing maintenance, concerns over material shortages are heightened, leading to increased prices from major distributors.
Key Highlights
- Price Increases: Distributors have raised prices following SAIL’s announcement of a Rs 2,000 per mt increase.
- Supply Chain Disruptions: The ongoing maintenance at SAIL's ISP plant is likely to exacerbate material shortages in the near future.
- Tata Steel Loss Forecast: Brokerages anticipate Tata Steel will report a loss for Q2 FY25 due to regional pricing pressures and reduced steel realizations, with financial results set to be announced on November 6, 2024.
Primary TMT Prices Today
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 55,500-56,000/mt Ex-Delhi NCR: Rs. 55,500-56,000/mt Ex-Vizag: Rs. 54,500-55,000/mt
- Note - Distributors across North, West and South have increased prices. Above pricing is based on the same.
Primary TMT Demand & Supply Analysis
- The primary manufacturers' prices have gone up; according to distributors. SAIL has announced a price increase of Rs 2,000 per mt. The distributors have a limited amount of material. The ISP SAIL plant is undergoing maintenance, which will disrupt the supply chain and result in a material shortage in the days ahead.
Primary TMT News
- Tata Steel is expected to report a net loss of up to Rs 153 crore for Q2FY25, with challenges from lower steel realizations and regional pricing pressures, according to industry sources. The results will be announced on November 6, 2024.
Expert Opinion
- According to the market's early trends, there is a price increase and a significant material shortage. In four to five days, the demand pattern will be clear. Distributors won't be interested in negotiating, while the SAIL plant is going under maintenance, increasing reliance on other brands.
Daily Market Report
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