India is considered the second-largest producer of crude steel in the world with an annual output of nearly 10 Metric tons. With the modern state-of-the-art steel mills, the industry is predicted to have a high growth rate in the coming years with the incorporation of new technology. However, the volatility of sectors results in high fluctuations in TMT bar price per kg.
Important factors that directly affect the pricing of the TMT bars:
Supply and Demand: This is the primary driving factor for TMT bar price. Like all other commodities in the market, the steel price varies hugely with demand and supply. With the increase in demand and low supply, the price is supposed to move toward the upper side according to TMT bar suppliers.
Cost of Raw Materials: The production of TMT is dependent on raw materials like iron ore and other metal scraps. With the fluctuation in the prices of these raw materials, the price of TMT bars can vary. The industry also has to deal with the change in the labour price. Here the
Transportation cost: The distribution of TMT bar is dependent on various modes of transportation. Hence, depending on the connectivity of any area, the transportation cost can vary, which will have an impact on the TMT bar price. Here, the local government taxation policies also play a major role.
Time and Weather Condition: The demand for the TMT bars varies at different times of the year. Like during the monsoon, when there is less construction work, the cost tends to stay on the lower side. During other times of the year, when the production is on the lower side, the price tends to go high.
Any major trends in the manufacturing industry: As steel is required in many major manufacturing sectors, the changes in the demand in any sector could have an impact on the pricing of TMT bars. Here, the price of energy with coal also plays a major role as high energy costs will significantly result in higher TMT bar prices.
Conclusion
For the purpose of obtaining consistency in product quality and ensuring complete customer satisfaction in both home and foreign markets, Supershakti has constructed modernised and updated manufacturing facilities. The greatest quality items are what have helped Supershakti reach this level today. The company has never compromised on quality and has become one of the leading TMT bars manufacturers in India.