Is TMT Market In India Facing Volatility?

The mid-sized (secondary) TMT market in India has remained volatile in the prevailing week due to subdued demand and consistent supply. The buyers have been cautious, which resulted in average inquiries for TMT. When it comes to raw materials- Sponge Iron and Billet price movement, the TMT market has reacted accordingly, and suppliers have adjusted their prices. In this article, let’s explore the status of the Indian TMT market and whether it has affected TMT production in India or not.

TMT Market In India At A Glance

• TMT Price In India- The mid-sized mills in India are offering TMT (certified) at around Rs 54,800/ton ex-Delhi, 52,700-53,200/ton ex-Raipur, and Rs 58,500-59,000/ton ex-Bangalore.

• TMT Production In India- Primary and mid-sized (secondary) mills have maintained production levels with 80%-90% capacity utilization. However, Rashtriya Ispat Nigam Limited’s (RINL) current production is at 60%.

• TMT Supply In India- In response to the current state of the secondary TMT market, mills are trying to maintain the supply in the spot market despite the low to average response and demand. Sources reported to Ofbusiness that mills are adjusting their strategies to stay competitive in the industry.

TMT Market Outlook In India

Market participants are closely monitoring the market dynamics and adjusting their strategies accordingly to stay competitive in the industry. The secondary TMT prices in India are expected to remain stable but they can be volatile until there is a significant change in demand or supply.

OFB’s Insight

The secondary TMT market in India has been volatile in the past few days due to moderate demand and consistent supply. Despite this, mid-sized mills are maintaining the demand-supply chain in the market. Primary and mid-sized mills are maintaining production levels despite varying capacity utilization. Overall, the market is expected to remain stable but it can be volatile as well. It remains to be seen how the market will evolve in the future, but for now, the secondary TMT market in India is expected to remain range bound with slight changes in prices.