Market News Today

The Phenol and Acetone market in India has undergone a dramatic structural repricing over the last month. However, the past week (March 23–29, 2026) was characterized by a consolidation phase, with prices stabilizing after a massive rally.

The Indian chemicals market witnessed a sharp broad-based rally this week, with the category average price surging <strong>+10.69% WoW</strong> to ₹154.06/KG, driven by aggressive feedstock cost push across imported solvents and ketones. MIBK led all movers with a stunning <strong>+48% WoW</strong> jump from ₹125 to ₹185/KG, while Methanol (+16.18%), Acetic Acid (+13.33%), and MEK (+12.50%) also posted double-digit weekly gains. On a month-on-month basis, the category is up a staggering <strong>+65.07%</strong>, signalling a structural repricing cycle that procurement teams must urgently factor into Q2 budgets.

The Polymers & Packaging basket posted a sharp week-on-week gain of <strong>+2.24%</strong>, with the category average climbing to <strong>₹1,56,650/MT</strong>, driven predominantly by a dramatic surge in HDPE prices and a sustained rally in ABS. HDPE led all movers with an <strong>+8.90% WoW jump</strong>, while ABS extended its extraordinary month-long run to <strong>+34.88% MoM</strong>, signalling tightening supply across key polyolefin and engineering polymer segments. PVC remained the lone significant laggard, sliding <strong>-2.13% WoW</strong> and <strong>-12.94% MoM</strong> amid continued import pressure and subdued downstream demand.

The Indian stainless steel market held steady this week with zero week-on-week price movement across both Cold Rolled and Hot Rolled Coils, signalling a consolidation phase amid stable raw material dynamics. Average traded prices across key cities stood at approximately ₹2,60,500/MT, with the broader category registering a modest 1.94% month-on-month uptick. While the wider steel ecosystem — particularly TMT bars and structural steel — is seeing bullish momentum driven by India's infrastructure push, stainless steel demand drivers remain more sector-specific and subdued in the near term.

India's mild steel market staged a broad-based rally this week, with the category average climbing <strong>+3.61% week-on-week</strong> to ₹50,325/MT, as aggressive government infrastructure spending and surging raw material costs drove prices sharply higher across all eight tracked products. MS Billets led the charge with a <strong>+6.94% WoW surge</strong> to ₹46,200/MT, pulling downstream long products and structural steel firmly upward. Procurement managers should brace for sustained elevation through Q2 2026, with monsoon-season demand softening the only near-term counterweight to an otherwise bullish market.

Toyota invests over $3 billion in India for new plants and in-house SUV/MPV production. This expansion includes hybrid Innova, electric MPV, and Fortuner updates, with 40,000 units targeted for export from 90,000 annual production.

The Petroleum Ministry urges digital LPG bookings, energy conservation, and avoiding panic purchases. It ensures fuel availability, with 55 Lakh LPG cylinders delivered yesterday, 94% online bookings, and 48000 KL additional kerosene allocated to states.

Jaipur's residential market is booming, fueled by emerging areas like Jagatpura, Kalwar Road, and Ajmer Road. Infrastructure upgrades and connectivity are attracting homebuyers and developers, decentralizing growth from the historic core.

Gurugram authorities are proactively strengthening drainage systems and identifying flood-prone areas for monsoon preparedness. This initiative, involving municipal teams and citizens, aims to reduce waterlogging disruptions, ensure public safety, and maintain economic activity.

Gurugram faces sanitation disruption as road sweeping contracts expired in March. The MCG awaits bids for a new ₹6.8 crore, three-month tender, causing civic concerns and criticism over delays in essential urban services.