What Experts Predict About TMT Bar Price Fluctuations Post Covid?

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TMT Bars

Steel is a worldwide product which means that the cost of steel changes consistently. TMT steel bars are significant steel items that you use as support bars in building the steady casings of present-day foundation structures.There are many elements that impact the TMT bar price, including the rate of urbanization and industrialization, the strength of the American dollar, and the overall state of the world economy. Yet, nobody was prepared for a pandemic to show up and ring in price fluctuations across the TMT bar segment.

The harm that COVID-19 caused from January 2020 onwards put off the worldwide economy. It stopped ordinary life as well as the construction industry in its tracks across the world. This led to an abrupt unforeseen fall in TMT bar price and other crude materials and metals, with steel prices declining as well. Be that as it may, the post-COVID recovery and the revival of the Indian economy has once again seen a gradual rise in steel costs.

These fluctuations have posed multiple challenges for developers and suppliers in the country. Let’s take a closer look at the situation and what the experts thing will happen down the lane.

Price Surge in TMT Bars Post Covid

  • Post pandemic, we are witnessing rising steel prices. As per latest trends, the per tonne TMT bar price today in India ranges from Rs. 42,000 to Rs. 56,000. The first trend that is emerging from this price rise is the diversion of Indian-manufactured steel to international markets. Naturally, this will further increase the price and also accelerate construction costs in India.
  • Further, this rise in price of steel and TMT bars is set to have a huge impact on the economic recovery as it threatens to increase export. Consequently, this will lead to serious detriments to the government’s Atmanirbhar policies such as production-linked incentive scheme.
  • As the rise in steel and TMT bars prices gathers further momentum, it is the MSMEs, households, agriculture, automotive and downstream sectors that will be hit hard to meet margins. As a result, we can expect the rising cost to be passed on to farm equipment, home appliances, cars and commercial vehicles, engineering components, and, most importantly, the real estate sector – all of which will see a price surge.
  • Medium-sized construction steel makers in India with plant capacities of 2 million tons per annum for making TMT bars and rebars are also struggling to accommodate rising steel prices.

Conclusion

With the TMT bars segment in general, and the steel industry at large, suffering from fluctuations, finding the right product for your construction project at the right price can be a task. But, at BuildSupply, we solve that problem with highly convenient, high quality and reasonably priced TMT bar procurement for all developers.

Offering a wide range of TMT bars that are pre-vetted by suppliers, BuildSupply offers transparent pricing, end-to-end tracking of your delivery, and a trustworthy customer service. Bring down your procurement costs in these challenging times by 10-15% with the best priced deals on TMT bars from the most reputed brands.

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