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OfBusiness Secondary TMT Dailies
3 years ago
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Daily Report
OfBusiness
Summary
Secondary TMT prices remained stable over the weekend, maintaining their market value. Prominent secondary manufacturers approved by NHAI have set their product prices at around Rs. 49,500/ton plus GST. The offers for Sangam TMT remained at Rs. 50,500/ton ex-Wardha.
8th May’23
Price
- Secondary TMT prices remained stable over the weekend, maintaining their market value. Prominent secondary manufacturers approved by NHAI have set their product prices at around Rs. 49,500/ton plus GST. The offers for Sangam TMT remained at Rs. 50,500/ton ex-Wardha (Maharashtra).
- The last operated prices of secondary TMT:
- Raipur: Rs. 48,000-48,500/ton
- Hyderabad: Rs. 52,500-52,800/ton
- Delhi: Rs. 52,000-52500/ton
- Ahmedabad: Rs. 52,500/ton
Demand and Supply
- The secondary rolling mills along with primary producers are currently running plants at 90% capacity, however, the market is experiencing sluggish growth as buyers are deferring their purchases in anticipation of reduced prices.
News
- Tata Steel warns of uncertainty over the future of UK business
OFB’s Opinion
- There are indications of a potential change in the market trend as certain secondary steel markets have recently experienced a slight uptick in prices.
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