Ashish Anupam, Vice President, Long Products, Tata Steel Ltd, highlighted the strong demand observed in the construction, housing and infrastructure sectors, with new projects coming up across the country. The coming months are ideal for construction activity as labourers return to work after the holiday season and the monsoon period comes to an end, Anupam said.
Anupam emphasised the optimistic sentiments based on these factors and also mentioned the consistency of government policies, noting that pricing would depend on raw material.
TMT prices fell from Rs 56,700 per tonne in September to Rs 55,900 per tonne in November. TMT rebar prices were Rs 63,000 per tonne in February. Also, prices of TMT rebar produced by the induction furnace (IF) method fell to Rs 49,000 per tonne in November from Rs 52,000 in September.
India's total steel production in FY 2022-23 was 123 million tonnes (MT), of which 52 MT was TMT rebar and bars.
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