How TMT Bar Price in West Bengal influence Construction Cost ?

 The construction industry in West Bengal has grown at an alarming rate in the past decade. However, despite this significant expansion, the prices of the properties or the cost behind construction have not gone down by a huge margin, as much as they should have been, with the rising demand. One of the major reasons behind this is the price of the TMT, which is the most integral part of any construction.  

That is why in this segment of our article, we will dive deep into the TMT bar price in West Bengal and the factors which influence the price of TMT, indirectly affecting the cost of construction. 

4 Factors that influence the TMT bar price in West Bengal 

Cost of Raw Material 

This is one of the most critical factors which influence the price of the TMT bars in West Bengal. It is because the cost of raw materials controls the overall price of the TMT bars. Hence a higher cost of raw material results in increased cost of TMT bars in West Bengal. On the other hand, a drop in the price of raw materials reduces the price of TMT bars in West Bengal, reflecting a direct correlation between the two.  

Quality of Iron 

TMT bars can be manufactured from both scrap iron as well as high-grade quality iron acquired from virgin iron ore. It is based on this choice of iron; the quality of TMT is largely influenced. This directly impacts the TMT bar price in West Bengal. As the poor quality, TMT made from scrap iron is low priced, while the good quality TMT manufactured from virgin iron ore is comparatively higher in price.  

Manufacturing Process 

There are many different ways of manufacturing TMT bars however these processes directly impact the quality of the TMT bar produced. It is because the manufacturing process is one of the most critical factors in developing good-quality TMT bars as it determines the strength and flexibility of the TMTs. That is why it is important to select a manufacturer that uses a controlled process and the latest Thermex technology to manufacture TMT bars. The use of this Thermex process directly influences the TMT Saria price in West Bengal but assures a good quality product to the consumers.  

 

Size of TMT 

TMT bars are manufactured in many different sizes, which can vary between 5.5 mm to 25 mm. Based on these sizes the weight of the TMT bar and its application are influenced. This results in, directly influencing the cost of the TMT bar price in West Bengal. It is because the TMT bar’s purchase rates are defined in kg and ton, hence higher the weight of the bar, the higher the price of the TMT bar.  

Location 

Even though the location is a secondary factor in defining the price of the TMT bar in West Bengal, it still influences the price of TMT. It is because the farther, the location of the dealer of TMT from the manufacturing unit of the TMT manufacturer, the higher the cost of distribution. This is why the price of the Best TMT Bars in India is often influenced by the location. However, when this price is considered at the unit level, the gap in the price of the TMT is negligible. 

 

External Factors 

External factors like natural hazards (flood, famine, earthquakes, etc.) and human control causes like political turmoil, etc have a direct influence on the price of the TMT. It is because these factors; increase or decrease the cost of transit, manufacturing, etc. Thus, directly impacting the end price for the retailer’s procurement, this eventually influences the purchase price for customers. 

Now that we have a clear understanding of the factors that influence the price of TMT bars in West Bengal, it is evident that these factors also have an indirect influence on the cost of construction. It is because the identified factors have a direct impact on the cost of raw materials, which eventually increases or decreases the cost of construction.    

How TMT bar price influence Construction Cost 

The cost of TMT in a construction project accounts for 40 to 50% of the overall cost of construction. It is because of this reason; a slight change in the unit cost of TMT directly affects the overall cost of construction by a huge margin. Further, with the change in the TMT Saria price in West Bengal, the overall budget of the construction is directly affected. This, in turn, pushes the construction agencies to select associated materials, which would adjust their budget, resulting in the development of poor-quality constructed structures. Thus, engaging further resources and finance behind continuous repair and maintenance indirectly increases the overall cost of the constructed structure.  

These detailed costing valuations of a construction project highlight how TMT bar price in West Bengal directly or indirectly influences the construction cost.