TMT Prices Of Indian Steel Mills Changed
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Mid-sized steel mills in India contribute 60%-65% of the country’s finished long steel production. Despite limited demand, mid-sized mills have low inventory levels and are optimistic about price movement, expecting an increase once demand improves.
The mills have reduced their prices up to Rs 1,000/ton in a week duration. According to industry experts, the decline in prices in the northern region and the Union Budget has impacted spot demand for steel.
Supported by robust orders from the construction and infrastructure sectors and improved export demand for flat steels, primary mills have maintained higher prices. This has influenced producers to keep steel prices higher and secure good margins for the last quarter of FY23.
Current Offers
Currently, prices from mid-sized mills are hovering around Rs 55,000/ton, while primary mills’ prices are around Rs 63,000/ ton. Prices are on an ex-works Delhi, size 12 MM, and exclusive GST.
The price gap between primary and mid-sized steel mills in India has increased due to a constant surge in prices by primary mills and a decline in prices from mid-sized mills. In north India (Delhi), the price gap is around Rs 7,000-8,000/ton, in south India it is around Rs 5,000-6,000/ton and in west India, it is around Rs 4,000/ton.
Insight
Industry experts believe that the prices of mid-sized steel mills are expected to rise as the steel prices of primary mills are trending higher and there is low stock in the market.
Read more: Indian Sponge Iron Industry Sees Moderate Demand As Prices Fluctuate
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