Primary TMT Prices Up Rs 500/mt Amid Steady Market Demand
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Primary TMT prices have increased by Rs 500 per mt across major regions, with distributors adjusting rates accordingly. Demand remains steady, with rising inquiries since January, suggesting further price hikes may follow. Market sentiment remains positive, and a clearer trend is expected by mid-February.
Key Takeaways
- Primary TMT Prices Increase: Prices have risen by Rs 500/mt across major regions, with distributors adjusting rates in response to steady demand.
- Market Demand Remains Stable: Inquiry volumes have been rising since January, and mills may implement further price hikes in the coming weeks.
- Sufficient Supply Available: Despite rising prices, distributors maintain adequate inventory, ensuring a balanced supply-demand scenario in the market.
- L&T Secures Major Project: L&T’s M&M division won a contract to build a Pellet and DRI Plant in MENA, supporting global steel decarbonization efforts.
- Positive Market Sentiment: Increasing inquiries and stable demand indicate favorable conditions, with a clearer trend expected by mid-February.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm):
- Ex-Mumbai: Rs. 51,500-52,000/mt
- Ex-Delhi NCR: Rs.51,500-52,000/mt
- Ex-Vizag: Rs. 50,000 - 50,500/mt
- Note - Distributors across North, West and South have increased the prices. Above pricing is based on the same.
Primary TMT Demand & Supply
- The market demand appears to be steady, yet the primary mills have raised their prices by Rs 500 per metric ton. Since January, the volume of inquiries has risen as trends indicate that mills might raise prices even more. The balance of demand and supply is consistent, as distributors have ample inventory available.
Primary TMT News
L&T’s Minerals & Metals (M&M) division secured a major order to set up a Pellet Plant and Direct Reduction of Iron (DRI) Plant for a steel producer in the Middle East & North Africa (MENA) region. The project supports global decarbonization efforts and includes engineering, supply, erection, and construction. DK Sen of L&T highlighted M&M’s leadership in executing complex iron and steel projects in MENA, adhering to international standards.
Expert Opinion
The market trend indicates favorable sentiments, as both prices and inquiry levels have risen since January. The balance of demand and supply appears steady. A clearer picture of the market is expected by the second week of February.
Daily Market Report
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Primary TMT Market Sees Rising Demand, Prices Expected to Increase
Primary TMT prices remain stable across major regions, with Ex-Mumbai and Ex-Delhi NCR at Rs. 51,500-52,000/mt and Ex-Vizag at Rs. 50,000-50,500/mt. Demand has increased compared to last week, leading to higher conversions and inquiries. Market optimism suggests a price hike in February.
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Primary TMT Prices Hold Steady; Market Optimistic for February Hike
Primary TMT prices remain steady across major regions, with growing demand and increased inquiries hinting at a possible price hike in February. Market optimism continues as secondary TMT prices rise, signaling potential upward movement in primary pricing. Also, industry experts anticipate protectionist measures in Budget 2025 to counter steel dumping.
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