Domestic steel TMT rebar prices cool off to two-year low
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New Delhi The prices of TMT rebars - a key requirement for infrastructure projects -- are trading at 24-month low levels and the trend is expected to continue for the next few quarters, SteelMint said.
Rates of TMT bars produced through blast furnace (BF) route have touched Rs 51,400/tonne level and rebars manufactured through induction furnace (IF) are trading at Rs 47,493 a tonne, the research firm said. The latest prices were registered on July 23. Such level for TMT bars produced via BF route was last witnessed in August 2021 when the rate of rebar was Rs 51,625 per tonne.
While IF made rebars were priced at Rs 47,041/tonne in July 2021, SteelMint data showed. Since then the prices have maintained an upward movement to reach their all-time high levels - Rs 72,880 per tonne (BF route) in April 2022 and Rs 68,418 per tonne in March 2022, it said.
