Market News Today

Crude oil markets remain volatile due to geopolitical tensions, but easing US-Iran relations have capped price gains. Meanwhile, the polymer market faces structural weakness driven by high Chinese inventories and rising import pressure. Domestic prices have corrected significantly, with further downside expected as the market transitions into an inventory liquidation phase despite temporary feedstock firmness.

The MS and DI pipes market shows a mixed trend. While MS ERW pipes are facing inventory pressure and stable pricing due to oversupply, the DI pipe segment is experiencing strong demand backed by government water infrastructure initiatives. A clear supply shortage in DI pipes is supporting firm-to-bullish pricing, whereas MS pipes are likely to remain range-bound in the near term despite improving demand sentiment.

The Indian bitumen market shows regional price variations influenced by crude volatility and infrastructure demand. Current trends indicate a steady shift in procurement patterns as bulk bitumen price today remains competitive against packed options. Major industrial hubs like Mumbai and Hyderabad are witnessing increased activity, shaping the overall domestic price in India.

Vishnu Chemicals announced a temporary shutdown of its Parwada plant for three weeks of routine maintenance. The unit is closed for essential upkeep, ensuring operational efficiency.

NTPC Green Energy commissioned 150 MW solar capacity in Rajasthan on April 18, 2026, boosting its total operational capacity to 10,276.40 MW. This is part of a larger 300 MW project, expanding its renewable energy portfolio.

Attero Recycling Pvt. Ltd. won the Circular Economy Initiative Award at India Solar Week 2026 (Feb 18-19). This recognized their leadership in resource recovery and sustainable material management within the clean energy ecosystem.

Iran banned petrochemical, ammonia, and urea exports from April 15 to secure domestic supply. This follows production drops due to US-Israel strikes damaging plants, raising domestic supply concerns.

China's phenol-acetone capacity fell to 77.30% by April 15 due to plant maintenance, tightening supply. Low port inventory of 33,000 tonnes supports prices, with market direction hinging on imported cargo arrivals.

China's ammonium chloride capacity, over 6.90 million tonnes, faces pre-May maintenance, tightening supply. Prices rebounded post-Spring Festival, rising 32.78% (Yuan 165.90/tonne) by mid-April due to demand and global fertilizer prices.

China's propylene operating rate is expected to drop to 65% in April due to Middle East conflict. The composite rate fell to 66.97% by April 15, a 6.70 percentage point decline from pre-conflict levels.