Market News Today

Bitumen prices showed mixed trends across Asia, with India and Iran posting firm values due to tight availability, while China and Southeast Asia remained soft on weak demand. Regional weather conditions and subdued construction activity weighed on consumption. Despite localized strength, the broader market is expected to stay stable to slightly bearish over the near term.

MNRE proposes new solar PV module efficiency standards under ALMM, effective 2027-2028. C-Si utility modules to reach 21.5% and CdTe 20.5% by 2028. This boosts quality, removing lower-efficiency modules.

Indian Oil Total Private Limited (ITPL) inaugurated a new Greenfield Bitumen Derivatives Plant near Chennai. It will manufacture various modified bitumen and emulsions, strengthening supply across southern India for major infrastructure projects.

China's NDRC will coordinate green hydrogen, ammonia, and methanol supply/demand to boost large-scale development and cut costs. With over 150,000 tonnes green-hydrogen capacity, it aims to advance infrastructure and innovation.

Guangxi Huayi Energy Chemical has successfully resumed operations at its No. 2 Acetic Acid plant following scheduled maintenance activities. The facility, located in Qinzhou, Guangxi, China, has an annual production capacity of 700,000 tons. The restart is expected to enhance supply availability in the regional market.

Indian polymer market saw price rollovers for PP, PE, GPPS, HIPS, and PET effective Dec 1, 2025. RIL reduced PP deemed export prices by ₹1,000/MT, while other major players maintained rates.

European LDPE prices saw mixed trends. Spot prices rose by Euro +10/mt to Euro 985-995/mt due to tight supply, while contract prices fell by Euro -10/mt to Euro 1835-1840/mt, despite softer ethylene.

APTRANSCO completed auction for a 1,000 MW/2,000 MWh battery storage project, boosting Andhra Pradesh's grid stability. The lowest tariff was ₹1.48 lakh per MW per month, with seven bidders. This strengthens renewable integration and the state grid.

Mumbai's civic body warned a Dharavi Redevelopment Project contractor for multiple dust violations, including missing screens and inadequate suppression. Non-compliance could lead to work suspension. A follow-up inspection is due within a week, reflecting a zero-tolerance approach to air pollution.

BMC announces an 18-hour water cut in Kandivali and Borivali on Dec 4-5, from 1:30 pm to 7:30 am, for pipeline maintenance. Two 900 mm aqueducts will be connected, affecting areas like Chikoowadi and Gorai. Residents urged to store water.