Market News Today

DI pipe prices remain firm at ₹67/kg (≤150 mm) and ₹58/kg (>150 mm), supported by strong infrastructure demand. MS ERW pipes trade at ₹57–58/kg (primary) and ₹55–57/kg (secondary). Capacity expansions by Rungta and Vibhor Steel strengthen supply, while global developments like Brazil’s anti-dumping duties influence trade sentiment.

India's coking coal demand, driven by steel production growth (targeted 300 MT by 2030), is projected to rise from 80 MT (FY25) to 135 MT (2030). Steel sector emissions contribute significantly to India's GHG footprint.

Increased shipments of Russia's Arctic LNG 2 to China have lowered Asian spot LNG prices. Deliveries are expected to slow as the Northern Sea Route closes in about a month.

Global crude oil markets face long-term shifts in cargo flow and pricing due to supply-demand imbalances and geopolitical factors.

OPEC+ has surprised markets with another supply increase amid concerns about US tariffs on India for purchasing Russian crude oil. India has been buying around 1.6m b/d of Russian oil.

Western Canada Select's discount to West Texas Intermediate narrowed on Friday.

US energy firms added oil and gas rigs for the second consecutive week, marking the first such instance since April, as per Baker Hughes' report.

Goldman Sachs predicts China will increase crude oil stockpiling from now until 2026, capitalizing on current low prices to bolster energy security.

Benzene-naphtha spread to regain healthy long-term levels as per S&P Global Commodity Insights' analyst Kate Lee during APPEC 2025.

India emphasized diversification and self-reliance in metallurgical coal sourcing during the India Steel Association's Coking Coal Summit.