Market News Today

India's steel pipes and tubes market remains stable, supported by infrastructure, energy, and industrial demand. Domestic manufacturers continue expanding capacities and developing high-value products, while rising imports of seamless pipes from China remain a key concern. Trade protection measures and energy sector demand are expected to influence market direction.

Stainless steel prices in India remained firm, supported by healthy demand from infrastructure, engineering, and manufacturing sectors despite rising imports and global market uncertainty. Meanwhile, China's stainless steel market weakened due to ample supply and sluggish demand. Falling inventories and stable mill pricing continue to provide support to domestic prices.

Bitumen prices in India remained elevated across major refinery locations amid supply concerns linked to geopolitical tensions and strong infrastructure demand. Rising project costs have prompted government intervention in multiple states. While road construction activity faces challenges from higher input costs, demand fundamentals remain supported by ongoing infrastructure investments.

India's polymer market entered June on a firm domestic note as major producers increased PE and PP prices despite softer international offers and mixed Chinese futures. Improved geopolitical sentiment surrounding a potential US-Iran agreement may ease feedstock concerns, while domestic supply discipline and producer actions continue supporting polymer prices.

India steel prices remained largely stable during the week ending 29 May 2026 as demand continued to be driven by immediate requirements. While flat steel prices showed marginal improvement, rebar prices weakened due to inventory pressure. Safeguard duties supported domestic HRC prices, while seasonal factors and muted construction activity capped market momentum.

Acetone prices in India remained firm during Q2 2026 despite easing supply tightness and improved import availability. While elevated propylene and energy costs continue to support market levels, weak downstream demand and cautious purchasing activity have limited further upside. Market sentiment remains balanced with a mildly soft near-term outlook.

Zinc prices today in India witnessed a firm upward trend as stronger global metals sentiment and tight inventory conditions supported the market. LME zinc gained over 1%, while MCX zinc prices rose nearly 0.6%. Improving industrial demand expectations and constrained stocks continue to provide bullish momentum to zinc markets.

Indian zinc markets witnessed cautious trade this week as zinc prices corrected amid weak global sentiment and concerns over slowing economic growth following expanding US military operations. Domestic zinc ingot prices in India remained elevated despite MCX weakness, while import demand for zinc ash and zinc bottom dross continued from western India, indicating steady secondary metal consumption demand.

India’s stainless steel market shows a striking divergence as of late May 2026. While sluggish downstream demand has dragged 304-grade prices down, tight supply and surging molybdenum costs have pushed 316-grade prices higher. Meanwhile, a 7% projected rise in FY26 scrap imports highlights a massive industry shift toward scrap-based melting.

Indian flat steel markets remained largely stable this week as cautious procurement activity balanced firm mill pricing. HRC, CRC, HR Plates, and MS Flats prices held steady across major regions despite subdued downstream demand. Export activity to the Middle East and Vietnam improved, while rising freight costs, safeguard uncertainty in Europe, and controlled inventory levels continued influencing procurement strategies and trade sentiment.