Market News Today

Telangana district authorities propose reducing the Kawal Tiger Reserve Eco-Sensitive Zone from 10 km to 1 km to ease sand and soil access for rural housing and infrastructure projects.

Pune civic administration mandated technical staff to conduct daily field inspections on two-wheelers between 9:45 am and 11:45 am across five zones to improve road riding quality during the monsoon.

Aluminium prices remained firm as LME values recovered alongside a modest inventory drawdown, while continued Chinese destocking provided downside support. However, cautious downstream demand, rising overseas production and unresolved Strait of Hormuz risks are limiting upside. Indian aluminium prices remain elevated, with market direction likely to stay range-bound in the near term.

Groundwork has begun on the 5.46 km underground metro extension from Swargate to Katraj, estimated at ₹2,954.53 crore and targeted for completion by February 2029.

Formosa Chemicals has restarted its Ningbo phenol and acetone plant following a 15-day feedstock supply delay caused by a recent typhoon.

DMCC Speciality Chemicals reported a 99% revenue increase to 2.5 billion rupees and soaring profits, driven by higher sulfur prices, though the company cautioned that future performance may normalize.

In July, China's butadiene imports surged by 96.03% while exports slumped by 71.34%, driven by an influx of European supply that eased regional buying pressure in Asian markets.

Asian PVC prices rose due to higher Taiwanese offers and firmer feedstock costs, though cautious buying limited gains. In India, Reliance Industries raised domestic prices by Rs.1.50/kg.

India’s steel market strengthened sharply in the week ending August 21, supported by improved retail buying, controlled mill dispatches and lower inventories. Rebar led the rally, while HRC and CRC prices also moved higher. Firm raw material costs and maintenance shutdowns are tightening availability, keeping the near-term market outlook positive.

Monsoon rains and thunderstorms in Kolkata, featuring 13 mm of recorded rainfall and winds up to 40 kmph, threaten urban drainage and mobility, testing city infrastructure resilience.