Market News Today

The global bitumen market showed mixed trends this week due to oversupply, weak demand in India and East Asia, and geopolitical uncertainties like Middle East tensions, Iran sanctions, and the U.S. government shutdown. While overall prices remained under pressure, regional fluctuations in Europe and China indicate localized dynamics influencing short-term movements. Future market direction will depend on crude oil trends, post-monsoon demand recovery in South Asia, and ongoing geopolitical developments.

Chennai's 14-km Urapakkam–Nallambakkam Road, built for Rs 5 crore, is damaged by overloaded trucks exceeding the 18-tonne limit, just two months after completion. Residents are frustrated, prompting officials to promise repairs and stricter monitoring.

Uttar Pradesh's 67 km Lucknow-Kanpur Rapid Rail Corridor will cut travel time to 45 minutes from 2-3 hours, boosting connectivity, economy, and reducing emissions. UPMRC is preparing the DPR for this transformative project.

SJVN awarded 1,500 MW/6,000 MWh FDRE RE storage projects at ₹6.74-₹6.75/kWh to Sembcorp, Reliance, Solarcraft, and ACME. This boosts India's clean energy and grid stability.

India's first Mumbai-Ahmedabad Bullet Train project targets Maharashtra operation by 2029. The 50 km Surat-Bilimora section opens in 2027, with civil work complete and track laying underway for 320 kmph speeds.

AAI issued a ₹93.2 Million tender for a solar power plant at Srinagar Airport. The 3-month project aims to boost renewable energy. Bids are due by November 1, 2025, with technical bids opening November 3, 2025.

Indian Railways adds two Vande Bharat trains on the Delhi-Patna route for festive rush. Operating three days a week each, these 17 and 16-trip services with 16-20 coaches aim to ease congestion and promote sustainable travel.

US sanctions on 8 Indian methanol importers caused market panic. CFR India methanol spiked $15 to $320/MT, creating a $64/MT spread with China. Downstream producers face shutdowns, impacting the global chemical industry.

Sabic sees growth in European plastics circularity and sustainability despite market headwinds. Over 120 new polymer solutions from Europe, with a 20,000 metric tons/year recycling plant starting commercial production, supporting the EU's 2030 recycling goal.

China's LDPE output is projected to increase by 9.39% month-on-month to 304,200 tonnes in October, driven by ExxonMobil's operations, rising imports, and reduced maintenance.