In the second quarter of 2025, TMT bar prices showed signs of stabilization after a prolonged period of decline observed in late 2024. The quarter started with cautious market sentiment, as exporters faced pressure from subdued international demand and increased competition from alternative suppliers. High inventory levels in importing countries and delayed project timelines initially kept transaction volumes low.
As the quarter progressed, prices began to firm slightly, supported by a seasonal rise in construction activity and the rollout of infrastructure projects across key regions, especially in Asia and Africa. Exporters benefited from steady raw material costs, including iron ore and coal, which provided a more predictable pricing environment. While global economic uncertainty continued to weigh on sentiment, the impact was softened by consistent procurement from markets with ongoing urban development needs.
Currency movements remained relatively stable, helping maintain competitiveness in key export destinations. Meanwhile, demand in developed markets like Europe stayed weak due to broader economic slowdown and policy-related uncertainties, but emerging markets showed more resilience. This divergence allowed Indian exporters to find opportunities despite global headwinds.
Analyst Insight
According to Procurement Resource, TMT bar prices are likely to stay steady or increase gradually, supported by infrastructure-driven demand and stable input costs.
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Asia
In the first quarter of 2025, TMT bar prices in Asia showed mixed movement. Early in the quarter, there was some positive sentiment due to China's economic stimulus announced at the end of 2024. However, the boost was short-lived. Demand in the construction sector remained weak, especially in China, where the real estate market continued to struggle. Despite efforts to reduce production, Chinese mills still pushed exports aggressively, keeping pressure on regional prices.
In India, local producers continued to face stiff competition from imported steel, which limited their ability to raise prices. Raw material costs, particularly iron ore and coking coal, showed ups and downs, which added uncertainty for TMT pricing. Although a few mills cut output to balance supply, the overall effect on prices was limited due to ongoing oversupply and slow demand recovery.
Europe
European TMT bar prices improved steadily throughout Q1’25. The turnaround began as mills started to increase flat steel prices, and TMT bars followed a similar trend. A recovering automotive sector, though not directly tied to TMT demand, helped improve sentiment across the steel market. Additionally, reduced production from winter cutbacks tightened supply, allowing prices to rise more easily.
The new carbon border tax mechanism made non-EU imports more expensive, pushing buyers to source locally, which supported domestic pricing. Service centres also restocked in anticipation of further increases, helping to create consistent upward pressure during the quarter. Overall, the European TMT market moved away from the lows seen in late 2024 and entered a more optimistic phase.
North America
North America saw sharp volatility in TMT bar prices in Q1’25. The key driver was the implementation of new tariffs on all steel imports in March, which triggered a wave of price hikes across the market. Buyers rushed to place orders before the tariffs took effect, causing a temporary surge in demand. Mills took advantage of the situation by raising prices and tightening availability. This led to longer delivery times and some buyers being placed on allocation. The construction sector, a major consumer of TMT bars, faced cost pressures as prices rose rapidly. Overall, Q1 was marked by uncertainty and fast-changing conditions.
Thermo mechanically treated bars (TMT Bars) are manufactured via a specialized process that involves subjecting them to thermal and mechanical treatments. The steel bars are first heated at elevated temperatures and then cooled. This gives the bar increased strength, high ductility, and resistance to corrosion. They are known to have a thick exterior and a soft internal material. In addition to this, they also have the ability to provide strength to the concrete and thus help in enduring the durability of buildings, bridges and other structures.
Construction, Automotive industry, Heavy machinery
ArcelorMittal Zenica, Balkan Steel Engineering Ltd, Essar Steel, HBIS Group, SIDERAL S.H.P.K., TATA Steel, ATLAS TMT Bars Pvt Ltd, Jindal Steel & Power Ltd
CurrencyUS$ (Data can also be provided in local currency)
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