SteelMint in a small survey with approx 18 finish Long manufacturers & traders assessed that 10% of them say TMT Re-bar market will go up, 20% say market will go down, while 70% are of the view that market will be range bound.
Most of the market players (70%) believe that TMT market may fluctuate in the range of INR 100-300/MT, whereas few players (20%) are of the view that market will decline and a few (10%) are expecting hike in prices.
Project Sales: “Project sale is dull from last 2-3 months due to elections; no improvement has been seen yet. However, completion of the elections may bring new projects which may increase the project sales.”
– TMT manufacturer based in Southern region
“It seems that market may correct by INR 500/MT because of low demand. High prices are not expectable in projects as well as retail demand has also reduced.”
– Trader based at Jalna
Retail Sales: Retail sale is decent in the market, although its volume is low from last 2-3 days owing to correction in raw material prices.
“Demand from nearby states has reduced as in these states local sales volume is low, which is not supporting us.
We don’t see any major changes in the TMT Re-bar market. Although, market is dull from last 2-3 days, it may not sustain for long time. Only marginally corrections may be done as neither we have over stock nor over demand.”
– TMT manufacturer based at Raipur
Today’s TMT Trade: TMT offers slashed by INR 100-300/MT across India except Chennai, where prices moved up by INR 300/MT.
Raw Material: MS Ingot & Sponge iron offers declined marginally by INR 100-200/MT from previous trade, while it increased by INR 200/MT in Chennai owing to power cut in city.
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