Market News Today

DI pipe prices remain firm on strong infrastructure-driven demand, while MS ERW prices are steady despite elevated inventories. New capacity additions are reshaping supply dynamics, yet DI availability continues to trail demand in key states. Market sentiment has improved as buyers turn proactive amid better project execution.

The EU proposes a one-year suspension of ammonia and fertilizer tariffs, excluding Russia/Belarus, to ease supply. Meanwhile, the US increased tariffs on certain imports to 15%, creating global trade uncertainty and impacting the chemical sector.

Petronas Chemicals Group Berhad swung to a loss in Q4 as currency headwinds and higher maintenance costs offset operations, with sales declining 11.5% year-on-year. The company expects 2026 to remain challenging amid market uncertainty. In Indonesia, Chandra Asri Pacific Tbk reported that its chlor-alkali and EDC project at Cilegon is 50% complete, with startup targeted for Q1 2027. The complex will add 400,000 mt/year of caustic soda and 500,000 mt/year of EDC capacity. Meanwhile, Hodogaya Chemical Co Ltd posted a sharp decline in operating profit during the first nine months of the fiscal year, impacted by weak demand for printer and OLED materials. Sasol Ltd also lowered its earnings guidance, citing softer market demand and weaker pricing. The company expects Northeast Asia PE and PP prices to range between $750/mt and $880/mt for the remainder of the financial year.

Mumbai HC rebuked MHADA for "high-handed" cancellation of NOC for a 16-storey Tardeo redevelopment, halting it at the tenth floor. The court restored rights, allowing construction to resume, emphasizing legal scrutiny for officials.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd reported a decline in profit for the fiscal third quarter ended December 31, even as sales volumes improved. The dip in profitability was primarily attributed to lower product prices, which weighed on margins despite stronger revenue performance. The company’s results reflect ongoing pricing pressure in the fertilizer and chemical segments, highlighting margin sensitivity to market price fluctuations.

Sudarshan Chemical Industries Ltd has established a new Global Capability Center (GCC) in Pune as part of its strategic expansion plans. The newly launched hub is designed to strengthen the company’s global operations by enhancing capabilities in research, digital transformation, supply chain management, and business support functions. The Pune-based center will act as a centralized platform to support international markets, improve operational efficiency, and accelerate innovation. This initiative aligns with the company’s long-term vision of expanding its global footprint and reinforcing its position in the specialty chemicals sector.

Government approved 2.88 lakh affordable urban homes under PMAY-U 2.0 across 16 states, bringing total sanctions to over 13.61 lakh. Projects include BLC, AHP, and ARH units, prioritizing women and vulnerable groups.

Nexus Select Trust invested ₹434 crore for a 50% stake in a 7.3 lakh sq ft Dombivli mall project. This marks their first partnership in ongoing retail developments, expanding their 19-mall portfolio across 15 Indian cities.

Sarbananda Sonowal launched ₹1,500+ crore green hydrogen, renewable energy, and digital twin projects at VOC Port. Cargo grew 6% to 35.97M tonnes, containers 9.4% to 716K TEUs, positioning it as a green maritime hub.

Suraj Estate Developers acquired Hally Pacific Private Limited for a ₹200 crore real estate project in Mumbai's Prabhadevi. This strategic move targets premium residential markets, enhancing their portfolio and capitalising on central Mumbai's growing demand for quality urban spaces.