Market News Today

RIL and Supreme Petrochem announced upward price revisions for various polymer grades, including PE, HDPE, LLDPE, LDPE, GPPS, and HIPS, effective September 7, 2026, with hikes ranging from ₹1,000/MT to ₹3,000/MT.

India's DCW has announced an investment plan to upgrade power infrastructure and expand synthetic iron oxide pigment capacity by 50% at its Sahupuram facility.

China BlueChemical reported a 3.9% revenue drop to 5.6 billion renminbi and a 20% net profit decline to 507.4 million renminbi for H1 2026, pressured by fertilizer and acrylonitrile market weaknesses.

Asian ethylene prices rallied sharply last week, driven by strong buying interest and tight spot availability. CFR Southeast Asia rose $85/mt to $1110-1120/mt, while Northeast Asia surged $100/mt to $1145-1155/mt.

India's steel composite index rose for the seventh consecutive week, driven by improved project demand, maintenance shutdowns, and rising input costs pushing HRC and rebar prices higher.

India’s steel market continued its upward trajectory, with BigMint’s composite steel index rising 2.8% week-on-week as of September 4, marking the seventh consecutive weekly increase. Stronger project procurement, rising iron ore, pellet and coking coal costs, and maintenance-related supply constraints are supporting prices, while tighter trader-channel availability is giving mills greater pricing power.

Indian bitumen prices remain elevated despite improved availability following the earlier West Asia supply squeeze. Your latest regional pricing shows bulk VG40 ranging from ₹74,492–76,292/MT, while packed material remains significantly higher at ₹76,390–86,900/MT where available. With road construction expected to accelerate from October through February, procurement costs could face renewed upward pressure.

India’s polymer market has shifted firmly upward as producers raised PP, PE, PVC and PS prices from 5–7 September, supported by sharply higher crude, Middle East supply risks and tighter import availability. Demand has improved only marginally, so the rally is currently supply- and cost-driven rather than demand-led; procurement should remain selective with inventory capped around 10 days.

Zinc prices remain firmly bullish, with September MCX Zinc closing at ₹418.30/kg on 4 September, up 0.83% on the day and significantly above the ₹390–400/kg levels seen in late August. (Upstox) Globally, declining mine output, critically low LME inventories and negative treatment charges are tightening refined zinc availability, keeping the near-term Indian market supported.

Following an inspection revealing 30% absenteeism among waste collectors, a state minister warned of dismissal for prolonged absence and ordered immediate cleanup, drain desilting, and infrastructure repairs across the city.