TMT Prices Hold Steady Amid Weak Demand and Adequate Inventories

Key Highlights

• TMT prices stayed stable across major regions despite soft demand.
• Construction activity slowdown and sufficient inventories kept prices in check.
• Rashmi Group’s ₹10,000 crore investment signals long-term industry confidence.
• Producers are reducing output to balance stock levels amid muted demand.

TMT Bar Prices Hold Steady Across Major Regional Markets

• Ex-Mumbai: ₹46,500–47,000/ton
• Ex-Delhi NCR: ₹47,000–47,500/ton
• Ex-Vizag: ₹44,000–44,500/ton

Note: Distributors across the North, West, and South regions have largely maintained stable pricing. The above pricing reflects this consistency.

Demand & Supply: Muted Construction Activity Keeps Demand and Supply Balanced

Prices have largely remained stable, reflecting the market’s persistent softness and the seasonal slowdown brought on by the monsoon.

To cope with subdued demand, sellers are choosing to keep prices unchanged in order to maintain competitiveness. At the same time, distributors are maintaining consistent inventory levels to ensure smooth product availability and minimize the chances of supply chain interruptions.

Market News: New Investments and Raw Material Shortages Shape Steel Outlook

Investment: Rashmi Group announced an investment of over ₹10,000 crore in West Bengal to build a 2.8 Mtpa integrated steel plant and a 400 MW captive power plant in Purulia. The group’s existing portfolio already includes TMT bars, among other steel products.

Raw-material bottleneck: Indian mills managed to procure only about half of their metallurgical coke requirements (used in steelmaking) in H1 2025, aggravating supply chain pressures for steel bars, including the TMT variety.

Price trends: Domestic finished steel prices have fallen to a five-year low, with wholesale TMT/rebar quoted around ₹46,500–47,000 per tonne. This drop is attributed to weak demand, rising imports, and oversupply in the global market.

According to BigMint data, the long-steel segment (which includes TMT bars) dropped ~1.1% week-on-week in mid-October 2025, signaling that momentum is stalling ahead of the Diwali season amid higher inventories and muted buying.

Despite weak short-term demand, industry players remain optimistic about TMT bars over the medium term — with the government’s infrastructure push, housing schemes, and growing awareness of higher-grade bars expected to support demand.

Expert Opinion: Producers Maintain Caution Amid Weak Demand and Steady Supply

With demand still tepid, producers are rolling out deeper and more targeted discounts. Yet, if weak demand persists, their ability to cut prices further will likely shrink. Major steelmakers have so far kept their official prices unchanged.

The slowdown is evident across both primary and secondary markets, reflecting a broad dip in purchasing activity and rising buyer caution.

On the supply front, conditions remain steady. Distributors currently hold enough inventory to meet market needs, with no significant concerns over supply or logistics. Meanwhile, manufacturers are receiving fewer fresh orders and have scaled back production to align with muted demand — an approach that helps prevent excess stock buildup and keeps operations running efficiently.