Market News Today

India's steel market remained under pressure as monsoon-driven demand slowdown, rising inventories, and price cuts by major mills pushed domestic steel prices to a six-month low. While export sentiment improved in Europe following quota clarity, uncertainty around the Strait of Hormuz and weak Asian demand continued to weigh on overseas trade.

The Indian structural steel market is facing seasonal headwinds as the monsoon season reshapes domestic procurement. While primary manufacturers struggle with low production and sluggish demand, the secondary re-rolled sector is experiencing choppy trading conditions. For B2B buyers looking at procurement strategies, here is a complete breakdown of today's market dynamics for MS Billets, Angles, Channels, and Beams.

RIL increased PVC by ₹3-4/kg, cut HDPE/LDPE by ₹4/kg, and PP Deemed Export by ₹6/kg. IOCL cut HDPE by ₹4/kg. Import duties on 40 polymers restored from July 16, increasing costs.

US producer prices fell 0.3% in June, the steepest monthly drop in over a year, driven by lower energy costs. Annual PPI rose 5.5%. However, inflation risks persist due to geopolitical tensions.

Wanhua Chemical projects anticipate a significant profit surge in H1. Earnings are projected to rise due to higher feedstock prices and strong operational gains, indicating robust financial performance.

Market analysts predict lithium prices will decline further in 2026 due to oversupply and slow demand growth, impacting the industry outlook.

India-China methanol arbitrage reopens due to Middle East supply concerns. Buyers are hesitant about 30-45 day delivery risks, preferring prompt arrivals to mitigate uncertainty in the market.

Germany's chemical output is projected to decline 1.5% in 2026, with H1 2026 production already down 3%. The industry faces rising costs, weak sales, and remains in crisis, with no sustained recovery in sight.

Benzene port stocks at Jiangsu plunged over 60% YoY to a record low of 56,800 tonnes by July 13, 2026. This 20-week decline is due to falling imports and domestic production cutbacks.

Tamil Nadu hit a historic power consumption peak of 472.263 MU, with demand above 21,500 MW, due to extreme heat. This highlights infrastructure pressure and the need for climate-resilient energy planning.