In modern India, steel products are widely used in the infrastructure industry. The most used item is a TMT bar. It is used to make the steel framework of a building structure, which is then filled with concrete to form reinforced cement concrete. Steel-making is one of the largest industries in India. Many brands and manufacturers make high-quality TMT bars before releasing them to the market to meet the demand.
To survive in the industry, companies need to be competitive in their pricing without compromising on the quality of their TMT bar product. Thus, builders and developers always check the Rungta TMT bar price list and also that of other TMT bar manufacturers before procuring from them. Let us take a look at the various factors that can influence the TMT bar prices in your region.
Factors influencing TMT bar prices:
Supply and demand
The most important requirement in any industry is the demand for its product. If there is no demand, no one will try to create the product, and thus, there will be no supply. India is a developing country with a booming infrastructure industry. Thus, there is a high demand for high-quality TMT bars in our country.
The large steel industry makes it easy to fulfil the supply and demand problems. Still, other factors may affect the supply and demand chain. The COVID-19 pandemic had disrupted the worldwide supply chain and affected the Rungta TMT bar price list and also that of other TMT bar manufacturers. Thankfully, we have recovered and reverted to normal times. Anyways, the price of the steel TMT bar also rises with the increasing demand and it goes down significantly when the demand for the product is less.
Availability of raw materials
Another important factor that affects the TMT bar prices is the availability of raw materials. A lot of materials like limestone, dolomite, coal, and iron ore are needed for the manufacturing of TMT bars. While some of them can be availed in nearby areas, other might have to be procured from far-flung areas in the country, or even from foreign nations. Due to this, the price of raw materials can fluctuate, which in turn can affect the Rungta TMT bar price list and that of other TMT bar manufacturers. If you want to use TMT bars for your construction project, you should explore the inventory of TMT bar dealers first. Depending upon the construction requirement, you can then order them from one of the top brands or manufacturers.
The transport and storage cost also has an impact on the TMT bar prices available at TMT bar suppliers. The TMT bar manufacturer cannot directly sell their products after they are made in the plants. These TMT bars are transported to the TMT bar dealers, who in turn provide them to the local builders and people doing construction. The transport costs of TMT bars can also rise due to the fuel prices, toll tax, and other such expenses incurred during the transportation from TMT steel plants to the TMT bar dealers. Moreover, as fuel prices are expected to rise in the future, the transport costs will also increase, which in turn will increase the prices of TMT bars.
Cost of energy and power
During the production of steel and then TMT bars, a lot of energy is needed. The raw materials are melted to form steel which is then put in moulds so that TMT bars can be cast. The steel plant employs a lot of large machines which run on electricity for this process. This power costs a significant amount of money as steel plants have to pay for the electricity at commercial rates. Even the TMT bar suppliers need to spend electricity on the warehouse that stores the TMT bars. All these energy expenses factor into the TMT bar prices. Manufacturers and dealers can try to switch to cheaper electricity providers or alternative sources like solar power, but it is a long term solution.
These are the factors that influence the TMT bar prices in your region. If you want to start doing any construction, you should first check out the current TMT bar prices. Use these factors to determine where you can procure construction materials at a cheaper rate.