Market News Today

Mumbai CM will inaugurate the 33.5-km Aqua Line-3 metro extension from BKC to Worli on May 9, cutting Aarey-Worli travel time to 39 minutes.

Indian developers rush to complete projects before monsoon to avoid delays, meet deadlines, and satisfy buyers. Mumbai saw 13,080 property registrations in April 2025, a 13-year high.

Base prices for 100x50 channels remain firm, with primary market rates ranging from Rs 54,200/MT in Durgapur to Rs 58,400/MT in Chennai. Primary mills, backed by strong infra demand and rising input costs, may raise prices mid-May. EPC contracts finalized for Q2 are driving demand for heavy sections like ISMB 500+ and WPBs, with regional shortages emerging.

TMT prices have declined across key regions as distributors respond to weak demand. Market sentiment remains cautious, with further adjustments likely if inquiries don’t improve. Supply remains stable, but sustained low demand could lead to additional price cuts in the coming week.

Mangalore Refinery and Petrochemicals Ltd. (MRPL) has rolled out an Early Bird incentive on polypropylene (PP), offering a discount of ₹3000 per metric ton. This scheme is valid from May 1 to May 15, 2025.

On May 8, 2025, Sinopec announced a price reduction of CNY 100 per metric ton for Phenol in the East China market.

Taita Chemical is currently operating its Acrylonitrile Butadiene Styrene (ABS) unit at approximately 70% of its actual capacity for May 2025. Located in Kaohsiung, Taiwan, the plant has an annual production capacity of 100,000 tons.

Qatar's first PVC plant in Mesaieed, set for mid-2025 completion, will boost the Middle East's PVC capacity by 350,000 metric tons annually.

Husk launched BEEM, a residential rooftop solar service, to accelerate India's 30GW residential solar market. BEEM aims to support the PM Surya Ghar Yojana initiative, targeting 10 million installations by 2027.

MPCB targets two Pune housing societies for polluting Ramnadi river with untreated sewage. Gram panchayats issue notices, demanding explanations and corrective action within five days.