TMT Market Shows Declining Demand, but December Surge Expected Amid Price Adjustments
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252Ftmt_5_aa00ea05fb.png&w=1920&q=100)
November saw a decrease in TMT demand, particularly in Delhi-NCR due to the NGT construction ban. Prices have risen last month in multiple regions due to distributor adjustments, with a forecasted demand increase in December. Meanwhile, India’s steel consumption has grown by 13.5% despite a global economic slowdown.
Key Takeaways
- Distributors Increase Prices: Prices for primary TMT steel range from Rs. 52,500 to Rs. 55,000/mt, with distributors across North, West, and South pushing prices up.
- Demand Downward for Now: November shows a declining demand pattern, mainly due to the NGT ban in Delhi-NCR, though demand is expected to rise in December.
- Steel Consumption Surge: India’s steel consumption increased 13.5% in H1 2024-25, with a goal to boost production capacity to 300 million mt by 2030.
- Balanced Market with December Optimism: While demand remains slow, distributors expect a market uptick by the second week of December.
Primary TMT Prices
- Prices are as follows (size 12 to 32mm): Ex-Mumbai: Rs. 54,500-55,000/mt Ex-Delhi NCR: Rs. 54,500-55,000/mt Ex-Vizag: Rs. 52,500 - 53,500/mt
- Note - Distributors across North, West and South have increased prices. Above pricing is based on the same.
Primary TMT Demand & Supply
- At the end of November, the demand trend indicates a downward trajectory. The demand in Delhi-NCR has been affected by the NGT's construction ban. Further developments in the Delhi NCR region will be determined by the Supreme Court's ruling. The distributors anticipate a spike in demand in December, although the market is generally dull. In the second week of December, a clear picture will emerge.
Primary TMT News
- India’s steel consumption surged by 13.5% in the first half of 2024-25, despite a global economic slowdown. The country’s steel production capacity is currently 180 million metric tons (mts), with a target to reach 300 million mts by 2030. To meet this demand, India needs an additional 120 million mts of capacity, requiring an investment of around $120 billion.
- Steel imports have risen 41.3% in the first half of 2024-25, which could affect domestic producers by driving prices down.
Expert Opinion
- In the month of November, the demand pattern indicated a declining tendency. Primary and secondary mills have made two to three price revisions. Given that the distributors have a sufficient quantity of the substance, demand and supply appear to be balanced. The distributors are expecting the industry to exhibit upward trends in December.
Daily Market Report
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252Ftmt_4_ce1effd16e.png&w=3840&q=75)
Primary TMT Market Faces Declining Demand, Price Reductions Expected
Primary TMT prices have decreased across major regions, with Mumbai, Delhi, and Vizag seeing price drops. Demand remains low, as market inquiries are scarce, and material availability is not an issue. Further price reductions are expected in the upcoming weeks, with a clearer picture expected by January.
Read Story
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FBeams_1_90162c6d1d.png&w=3840&q=75)
Primary Structure Supply Normalises as SAIL and RINL Stocks Improve; Prices Stable
Structure prices remained stable across regions today. Primary supply is normalising as SAIL resolves stock issues and RINL round bars re-enter the market. Secondary mills have ample inventory but face sluggish demand. Meanwhile, Dutch regulators are pressing Tata Steel Netherlands to address emissions violations, threatening closure.
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%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%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%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)