Market News Today

Styrene prices in India held steady at ₹96–97/kg as Asian benchmarks rebounded on firmer benzene and renewed post-holiday buying. Global supply remains adequate, but restocking has tightened the near-term range. India’s full import dependence keeps domestic pricing closely aligned with international feedstock and freight movements.

Asian base oil prices were mixed as trading gradually resumed after holidays. Light grades in Group I and II tightened, while heavy cuts remained more available. Group III fundamentals stayed balanced-to-firm. Brent near $72/bbl provided upstream support, with maintenance schedules and geopolitical risks influencing near-term sentiment.

Zinc prices remained range-bound over 25–26 February 2026, with LME witnessing mild profit booking while inventory levels stayed tight at 100,000–110,000 tonnes, supporting the broader market. MCX zinc consolidated after rallying near ₹332/kg ahead of expiry. Domestic scrap and ingot prices strengthened amid steady downstream demand, while global macro uncertainty continued to influence sentiment.

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.

Global HDPE markets showed regional divergence. Europe spot prices softened while contract prices edged higher on restocking and firmer ethylene costs. The US market remained stable-to-firm, supported by steady injection-moulding demand and minor weather-related disruption. China prices weakened amid pre-Spring Festival slowdown and seasonal demand drop. Overall, markets remain range-bound with limited short-term upside.

Copper prices in India are trading near ₹1,180–1,190/kg after breaking below ₹1,200 support. Rising global inventories and a shift into contango signal near-term supply comfort. While short-term momentum remains bearish, long-term demand from EVs, renewables, and infrastructure continues to provide structural support.

IPA prices in India softened slightly to ₹83–84/kg amid weak downstream offtake and comfortable supply. US markets also edged lower on flat distributor buying and ample inventories. With no production disruptions and steady operating rates, the market remains balanced-to-bearish, with limited catalysts for near-term upside.

Bitumen prices in India remain firm, supported by crude near $69/bbl and renewed geopolitical risk premium. Imported cargoes retain a ₹3,000–₹5,000/MT discount to refinery supplies. The market is reacting more to compliance and shipping risks than actual shortages, with downside limited unless tensions ease materially.

Stainless steel prices firmed following mill hikes and rising nickel costs. The 300 series remains supported, while 200 series demand strengthens due to limited imports. The 400 series shows gradual improvement. Availability constraints persist in select sizes, and overall sentiment stays positive with expectations of further price increases in coming weeks.

Structural steel channels remain firm as improved February bookings and controlled mill dispatches support prices. Secondary markets show selective tightness in small sections while infrastructure and fabrication demand stay healthy. Domestic consumption continues to lead the market, with buyers advised staggered or advance booking amid an emerging upward price bias.