Market News Today

Kremlin stated India will continue buying Russian oil for economic benefit, despite U.S. pressure and Trump's August decision to double tariffs on Indian goods to 50% over the purchases. Putin offered uninterrupted supplies.

Bitumen prices in India remain stable despite sluggish construction activity and abundant supply. Extended monsoon delays and elevated port inventories have created a buyer-friendly market. New capacity additions and improved logistics are enhancing availability, especially in the South and East. Prices are expected to remain rangebound unless unexpected refinery disruptions emerge.

India’s PP raffia market remains stable even as China sees declining prices due to oversupply and cautious demand. Feedstock cost movements stayed mild, and high utilisation rates in China kept inventories elevated. Domestic incentives and planned plant shutdowns may briefly influence availability, but overall fundamentals point to a soft, rangebound PP market through mid-December.

TNERC approved TNPDCL's 5-year procurement of 1,000 MW RTC power to meet Tamil Nadu's rising demand. Peak demand hit 20,830 MW, projected to reach 35,507 MW by FY 2034-35. This ₹6,143 crore deal ensures stable, cost-effective supply.

Rajasthan boosts rooftop solar under PM Suryaghar, with 1.09 lakh plants installed. Jaipur leads with 15,932. Monthly 10,000+ installations, supported by ₹17,000 subsidy and 5.75% loans, aim for state leadership.

Rajasthan showcased its leadership at the Global Energy Leaders Summit 2025, highlighting 2,470 MW decentralized solar success under PM-KUSUM and 6,000 MWh energy storage development, positioning itself as a model for renewable energy.

Supreme Petrochem has announced an immediate price increase of ₹1,000 per metric ton for its GPPS and HIPS products, impacting the petrochemical market.

India's EV charging market is rapidly expanding, projected from 1.56 million units in 2025 to 11.58 million by 2035 (22.20% CAGR). Driven by policy, adoption, and investment, it's crucial for clean mobility.

The Government of India has issued a directive to discontinue the collection of anti-dumping duty on Titanium Dioxide (TiO₂) imported from China with immediate effect. The decision follows a ruling by the Calcutta High Court dated September 22, 2025, which quashed the earlier notification imposing anti-dumping duty on TiO₂ imports from China. Accordingly, customs authorities across the country have been instructed to stop applying anti-dumping duty on Titanium Dioxide shipped from or originating in China. Stakeholders dealing in TiO₂ are advised to refer to the official circular for complete procedural details.

Reliance Industries Limited (RIL) is preparing to resume operations at its Purified Terephthalic Acid (PTA) facility in Dahej during the second half of December 2025. The plant, which has an annual production capacity of 1.3 million tons, is expected to return to service, supporting supply availability in the domestic polyester chain.