Market News Today

Copper prices eased marginally after touching a six-month high as concerns over higher-for-longer US interest rates offset tightening exchange inventories and supply risks. Indian copper futures remain in an uptrend, supported by lower global inventories and Chilean production disruptions, while economic uncertainty and profit-taking could increase near-term price volatility.

India’s HRC-rebar price spread narrowed sharply in August as rebar prices rose faster than HRC amid maintenance-led supply constraints and stronger bookings. With rebar availability expected to remain tight and construction demand likely to improve, the spread could narrow further in September.

Acetic acid prices remained firm but volatile as China moved from supply-driven strength toward a more balanced market. Plant restarts are improving availability, while cautious downstream buying is limiting further gains. In India, import dependence and changing replacement costs continue to influence prices, keeping the market range-bound with a firm bias.

TMT steel prices in India continued to strengthen as tight scrap availability, higher input costs and firm primary steel offers supported the market. Strong demand and limited mill supply are keeping prices elevated, while rising raw-material costs are likely to sustain positive momentum near term.

Aluminium prices remained firm as LME values recovered alongside a modest inventory drawdown, while continued Chinese destocking provided downside support. However, cautious downstream demand, rising overseas production and unresolved Strait of Hormuz risks are limiting upside. Indian aluminium prices remain elevated, with market direction likely to stay range-bound in the near term.

India’s steel market strengthened sharply in the week ending August 21, supported by improved retail buying, controlled mill dispatches and lower inventories. Rebar led the rally, while HRC and CRC prices also moved higher. Firm raw material costs and maintenance shutdowns are tightening availability, keeping the near-term market outlook positive.

India’s bitumen market remains firm as crude-linked costs, geopolitical disruptions and freight pressures continue to influence availability and pricing. Road construction demand is structurally strong, but higher bitumen costs are squeezing contractors and equipment buyers. Near-term prices may remain elevated, with regional supply tightness and infrastructure activity creating support.

Global PET markets remain under pressure from volatile crude oil, elevated freight costs and geopolitical disruptions. Asian prices have recovered from recent lows, while cautious buying limits demand growth. Europe remains weak amid high inventories and imports, whereas Middle East prices are rising. Market sentiment remains highly dependent on raw material and freight trends.

DI pipe prices remain firm in India as limited production capacity, long lead times and strong infrastructure demand support the market. MS and MS ERW pipes are largely stable, supported by steady HRC prices and infrastructure activity. Post-monsoon execution and government spending could provide further support over the next 30–45 days.

Stainless steel prices in India remained firm as global nickel and copper prices stayed elevated and the rupee weakened against the US dollar. Demand for 200 and 400 series improved, while 300 series demand remained subdued due to higher prices. Market participants expect prices to remain firm amid geopolitical uncertainties.