Market News Today

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.

Domestic refinery-linked products remain firm as crude volatility and geopolitical shifts reshape India’s sourcing strategy. Venezuelan crude has re-entered the supply mix amid Russian sanctions, while US and alternative heavy grades are being evaluated. Freight economics and refinery configurations will determine scalability, keeping bitumen and base oil prices supported.

Polymer markets show price firmness but weakened buying momentum after recent hikes by RIL. Converters are drawing inventories cautiously while evaluating March strategies. Stable domestic supply and competitive PVC imports persist. US tariff rationalization and the India–EU FTA enhance long-term export competitiveness, supporting structural growth for Indian processors.

Zinc prices remained firm across LME, SHFE, and MCX, supported by tight exchange inventories and steady industrial demand. Positive macro sentiment and galvanizing activity underpin prices, while market participants track Chinese restocking and treatment charges. A technical breakout above resistance may extend near-term bullish momentum.

Acetone prices in India stayed range-bound amid weak global demand and persistent oversupply. Capacity additions, especially in China, continue to outweigh consumption growth. Elevated inventories are capping any price recovery. Near-term outlook remains stable to mildly bearish, with limited triggers for sustained upside.