Market News Today

Methanol prices in India witnessed a sharp correction during June, with Ex-Kandla prices falling over 30% month-on-month. Improving prospects for Middle East supply, progress in US-Iran peace negotiations, and expectations of normal shipping through the Strait of Hormuz have eased supply concerns, while weak buying sentiment continues to pressure prices.

Stainless steel prices in India remained under pressure during June 2026 as weak downstream demand, falling nickel prices, and rising imports weighed on market sentiment. While domestic mills and distributors continue focusing on cost recovery, buyers remain cautious. Increasing imports and uncertain raw material trends are expected to keep the market subdued.

Copper prices today recovered slightly but remain under pressure from a stronger US dollar, hawkish Federal Reserve signals, and weak Chinese demand. While tight mine supply continues to support the long-term outlook, near-term sentiment remains cautious. Copper prices in India may remain volatile as traders monitor macroeconomic developments.

Zinc prices today witnessed a sharp correction across global and domestic markets as profit booking and weaker investor sentiment weighed on prices. LME and MCX zinc futures declined significantly, while traders remained cautious amid demand uncertainty and inventory monitoring. The near-term zinc market outlook remains range-bound with key support levels under focus.

Base oil prices in Asia have softened from April highs as crude oil and feedstock costs eased, improving supply availability across Group I and Group II grades. However, Group III base oil prices remain elevated due to Middle East production disruptions and supply shortages. Indian buyers remain cautious amid monsoon-driven demand uncertainty.

Polymer prices in India are witnessing increasing downward pressure as crude oil remains below $80/bbl, Chinese futures weaken sharply, and domestic production disruptions begin easing. Falling international offers, rising material availability, and cautious buying sentiment are shifting the market from supply-driven tightness toward a more balanced and potentially bearish phase.

India steel prices today remained under pressure as elevated inventories and cautious buying sentiment weighed on the longs segment. Rebar prices fell to multi-month lows, while HRC prices in India stayed largely stable due to resilient manufacturing demand. Softening raw material costs and monsoon-related demand weakness continue influencing market direction.

The Indian pipe market remains stable, supported by ongoing infrastructure investments and improving enquiry levels. While MS ERW pipe prices today show localized strength in select northern markets, DI pipe demand continues to benefit from water infrastructure projects. Supply constraints and healthy order books are expected to support market fundamentals in the near term.

Aluminium prices today remain supported by prolonged West Asia production disruptions and tight near-term supply conditions. However, rising output from China and Indonesia is expected to gradually rebalance the market. While volatility may persist, the long-term outlook is becoming more balanced as new capacity enters the global aluminium supply chain.

MS structural steel prices in India remained stable to firm as infrastructure, industrial construction, and fabrication demand continued to support market sentiment. Primary mills maintained pricing discipline, while secondary market competition capped sharp increases. Comfortable inventories and steady project execution are expected to keep structural steel prices largely supported in the near term.