TMT Prices Stable, Demand Surge Expected
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Primary TMT prices remained stable in the last week of August, with Mumbai and Delhi NCR prices at Rs. 50,500-51,000/ton and Vizag at Rs. 49,000-49,500/ton. Distributors anticipate increased demand as the monsoon ends, potentially leading to price hikes in September.
Price
- The prices of primary TMT remained stable during the last week of August and are listed below for major locations:
- Ex-Mumbai: Rs. 50,500-51,000/ton
- Ex-Delhi NCR: Rs. 50,500-51,000/ton
- Ex-Vizag: Rs. 49,000-49,500/ton
- The prices are for 12 to 32mm sizes, Grade Fe 550/550D and exclude trade discounts, as well as GST.
- Distributors across the North, West, and South have observed reduced prices from all primary mills. The above pricing reflects this trend.
Demand and Supply
- Distributors expect the market to remain stable during the final week of August. However, it is anticipated that mills will increase prices in the coming month. With the monsoon drawing to an end, demand is expected to surge in September.
News
- Jindal Steel and Power Limited (JSPL) emphasized its commitment to supporting India's MSME sector in its FY 2023-24 Integrated Annual Report. The company sourced 4% of its input materials from MSMEs, reflecting its strategic focus on small businesses. As of March 31, 2024, JSPL's outstanding dues to MSMEs were Rs. 152.34 crore, up from Rs. 125.49 crore the previous year.
- The company maintained a strong financial performance, reporting a gross revenue of Rs. 58,115 crore and an adjusted EBITDA of Rs. 10,231 crore, underscoring its continued contribution to national economic growth.
Expert's Opinion
- As August's final week approaches, distributors anticipate a spike in demand in the coming weeks. The approaching end of the monsoon is expected to drive this increase. Distributors currently have a plentiful supply of materials available.
Daily Market Report
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