India: TMT Prices boost up by 2-4% on M-o-M Basis

• Finish Long (TMT) demand increased across India. In contrary, North India is quite stable.
• High Price of Raw material (MS Ingot/Billet and Sponge Iron) supports the increment.
• Construction activity improved across India by domestic housing construction and Govt. projects.
• Primary TMT producers may hike offers by 2% for Jan’14.

North India: TMT prices increased by INR 400/MT in the North region. 12mm TMT offer in Mandigobindgarh, Punjab is at INR 42500/MT and in Muzaffarnagar, Uttar Pradesh is at INR 40,100/MT.

East India: In Eastern region of India, TMT prices stirred by INR 400-1,200/MT. In Rourkela 12mm TMT offer is at INR 37,500/MT, which is increased by INR 400/MT. Correspondingly, in Durgapur offer for 12mm TMT is at INR 39,200/MT and higher by INR 1,200/MT from last one month.

Central India: In Raipur, Chhattisgarh as well as Indore, Madhya Pradesh, 12mm TMT prices touched a range of INR 38,000-45,100/MT having growth of INR 1,300-1,500/MT.

West India: Major hike of 4-9% in prices is seen in Maharashtra and Gujarat. In Mumbai, , TMT prices have improved by INR 1,500/MT to INR 42,800/MT for 12mm, whereas it is raised by INR 3,200/MT to INR 43,500/MT in Ahmedabad.

South India: In southern region, sustaining the price hike rally, TMT prices moved up by 4-7%. TMT prices see a northward trend in Chennai and Karnataka by INR 1,600-2,400/MT in a month.

Note: Prices are Inclusive of VAT