Noble Sponge Pellet (FeM 78-80%) in Kanchipuram

TMT prices remain stable, with a decline expected soon. Distributors report reduced prices across primary mills. Demand is stagnant, but price revisions and rising demand are anticipated post-monsoon. NMDC Steel Limited has produced 1 million tonnes of HRC at its Nagarnar plant, marking a significant milestone for the company.

Primary TMT prices dropped by Rs 500/ton due to demand concerns. Current prices: Ex-Mumbai and Ex-Delhi NCR at Rs 50,500-51,000/ton, Ex-Vizag at Rs 50,000-51,000/ton. With ESL Steel resuming operations and ample supply, further price cuts are expected, especially with the upcoming holidays reducing demand.

Primary TMT prices have remained relatively stable, with distributors increasing prices in various regions. SAIL recently lowered its prices, but demand for the material has slowed in comparison to previous months. The Indian government is considering a temporary tax on Chinese steel imports to counteract the negative impact on local prices and margins.

The structure market saw price hikes in the primary segment, driven by supply challenges and maintenance issues at the IISCO facility. Secondary market prices remain stable, with adequate inventory for standard sizes. Rising steel imports under FTAs pose challenges to the domestic market, as calls for higher tariffs face limitations.

The primary market for steel structures saw price increases this month. However, supply issues are a concern, particularly due to the ongoing maintenance of the IISCO facility, which produces high-demand structures. Meanwhile, the secondary market remains stable for conventional sizes but is facing a decline due to reduced demand and the falling price of iron ore in China.

Primary TMT prices have remained relatively stable across key regions like Mumbai, Delhi, and Vizag, despite price hikes from distributors. Demand in the market is sluggish, with low inquiries and even lower conversion rates, as buyers focus more on negotiating prices than on making purchases. Meanwhile, the Indian government is addressing rising steel imports.

Primary TMT prices remain stable across regions. Despite sufficient supply, demand has remained low, with buyers hesitant to close deals. Distributors are engaging in price negotiations due to high inventory levels. Meanwhile, analysts project higher demand and profitability for steel companies in Q3FY25, driven by cost efficiency and stable input prices.

Structure prices have seen notable changes this month, with SAIL and RINL implementing price hikes in their latest revisions. The IISCO plant's 45-day maintenance has caused a significant supply crunch in primary materials, while secondary markets remain stable but face declining inquiries and minimal demand.

Structural steel prices show mixed trends with primary market prices rising due to supply constraints, while secondary market prices remain largely stable or declining. Maintenance at the IISCO plant and a shortage of RINL round bars have tightened primary supply, driving up prices. Secondary mills, with sufficient inventory, face weaker demand.