OfBusiness Secondary TMT Dailies

24th May’23

Price

• Yesterday, the prices of secondary TMT have experienced a decline due to low demand. In certain regions, the price dropped in the range of Rs. 300-500/ton.
  • Raipur: Rs. 48,200/ton (down by Rs. 300/ton)
  • Hyderabad: Rs. 52,000/ton (down by Rs. 500/ton)
  • Delhi: Rs. 52,200/ton (down by Rs. 300/ton)
  • Jalna: Rs. 51800 (down by Rs. 500/ton)
  • Wardha (Sangam TMT): Rs. 49,200/ton

Demand and Supply

• The secondary TMT market is currently facing declining demand, causing sellers and manufacturers to aggressively sell their inventory to maintain production capacity. However, customers are waiting for further price reductions.

News

• To stimulate sales, sellers are significantly reducing prices and secondary manufacturers are offering aggressive discounts to maintain a competitive edge. Meanwhile, Rungta Steel has inaugurated a new wire rod steel plant in Dhenkanal, Odisha, enhancing its production capacity and serving key markets across several states.

OFB’s Opinion

• The rates of Secondary TMT are consistently declining, as seen in recent market trends. Further decreases are anticipated to widen the gap with the primary competitor. The upward trend is unsustainable due to a significant decrease in demand.