Market News Today

The structural steel market maintains a firm tone, with the secondary segment leading due to tight supply and strong demand for channels and angles. Primary mills remain cautiously optimistic, awaiting mid-November pricing cues. Stockists are actively replenishing inventories in the West and South, while trade liquidity has improved post-festive season across major hubs.

Steel prices remain stable across major hubs despite weak post-monsoon demand. Distributors are managing inventory cautiously, while mills are calibrating production to prevent oversupply. With India emerging as a net steel exporter and new investments under the PLI scheme gaining traction, the medium-term demand outlook — especially for TMT — appears increasingly positive.

HRC and CRC prices across key Indian markets remain largely steady, with marginal day-to-day movements reflecting local factors. Demand is stable but cautious as mills manage supply through maintenance shutdowns and reduced imports. Tata Steel's Q2FY'26 performance highlights resilience in the sector despite cost pressures. Near-term pricing sentiment remains cautious, with limited upside given mixed market signals.

India's power regulator warns renewable projects of disconnection for grid violations, citing non-compliance with technical standards. Only two generators are fully compliant. This aims to protect grid stability amid India's 2030 clean energy push.

DI and MS pipe prices remain steady, supported by ongoing infrastructure spending. DI pipes are in high demand due to water supply projects but face supply constraints. MS ERW demand has improved post-monsoon, though high inventories persist. New capacities from Vibhor Steel and Rungta Steel are reshaping supply dynamics.

Kolkata Metro's Purple Line construction cleared a hurdle as RVNL and Nepal Consulate swapped land. Nepal gave 409.53 sq.m for 526.34 sq.m, enabling a ramp for the Mominpur-Esplanade section after three years of legal issues.

Bengaluru Metro's Rs 20,896 crore Tumakuru extension faces criticism from MP Tejasvi Surya, citing high costs and 34 km/hr speed, advocating for suburban rail. Minister Ramalinga Reddy defends it for traffic relief.

RIL launched X & Y incentive schemes for HD/LL sales in November 2025. Buyers achieving 9% of FY26 annualised APR quantity qualify for Category X, and 12% for Category Y.

NHAI debarred Nirmal BuildiInfra for shoddy white-topping on NH48 (Mumbai-Ahmedabad Highway). Debarment, issued April 22, extended six months with a November review. Contractor's work cited poor quality, safety, and traffic management.

RERC ordered 'Change in Law' compensation for SECI solar projects. It disallowed pre-July 1, 2019 claims but allowed carrying cost (not interest on it) at the lowest of three rates. Compensation will be 15-year annuities at a 9% discount rate.