Metals & Mining News

TMT rebars demand to grow over next 3-4 months: Tata Steel VP

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The demand for TMT rebars in India will continue to grow over the next three to four months, a senior industry executive has said. There is a good demand seen from the construction, housing, and infrastructure segments, where new projects are coming up all over the country, Ashish Anupam, Vice President – Long Products at Tata Steel Ltd, said.

Besides, there is consistency in government policies. So, sentiments are also high among the investors, he added.

“I am very bullish for three reasons. Firstly, the festive season is over, workers are back to work. The monsoon is also over. This is the best time for construction because there is no heat and all as well. Next three to four months, I am more bullish from the demand side. Prices, I can’t say as it depends on raw materials,” he told PTI.

According to market research firm BigMint (formerly SteelMint), the TMT prices through blast furnaces have fallen from Rs 56,700 a tonne in September to Rs 55,900/tonne in November. The TMT rebar prices were Rs 63,000 a tonne in February.

The prices of TMT rebars produced through the induction furnace (IF) route have fallen from Rs 52,000 a tonne in September to Rs 49,000/tonne in November.

In 2022-23, India’s total steel output was 123 million tonnes (MT), of which 52 MT were TMT bars and rods.

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