Market News Today

TMT rebar prices in India extended their decline in early July, weighed down by weak construction demand, ample inventories, and the seasonal impact of the monsoon. While steel mills continue to face pricing pressure, expectations of stronger infrastructure activity after the rains could help stabilize prices in the coming months.

Aluminium and copper prices rebounded as a weaker US dollar, easing interest rate concerns, and tightening inventories improved market sentiment. While recent corrections have weighed on prices, supply deficits, resilient industrial demand, and continued Chinese restocking are expected to support both aluminium and copper prices in India during the second half of 2026.

Gurugram plans >₹100 crore investment across six road infrastructure packages in sectors like 102-111. Projects aim to boost urban connectivity, improve mobility, and integrate green corridors and rainwater harvesting systems.

Gurugram's Ganga Vihar and Sahib Kunj face severe civic issues. Over a thousand households suffer from waterlogging, poor roads, inadequate lighting, and traffic congestion, highlighting a gap between urban growth and essential services.

Gurugram initiates a 5-year, ₹450 crore plan for dust-free streets. The project involves 72 sweeping machines and 2,500 personnel, with tendering underway for urban sanitation upgrades and improved air quality.

China will add 560,000 TPA Butadiene capacity in H2 2026, increasing total capacity to over 3.3 million TPA (7.38% YoY). This expansion, from three companies, may intensify supply-side pressure.

Middle East crude exports surged to 11.3 million b/d in June due to a Strait of Hormuz ship rebound. Hormuz transits reached 53 ships on July 1, with 55% carrying oil, chemicals, and refined products.

Gujarat Fluorochemicals is expanding its refrigerant capacity by adding R134A to its portfolio, targeting the growing air conditioning market.

India inaugurated an $8 billion refinery and petrochemicals complex in Rajasthan. The Pachpadra complex will process 9 million mt/year of crude oil and produce 2.4 million mt/year of petrochemicals.

HOCL restarted its 40,000 mt/y phenol and 5,225 mt/y hydrogen peroxide plants in Kochi on July 5. Operations were halted due to high raw material costs, low demand, and market constraints.