Market News Today

Steel prices have moved upward across key regions amid improving demand and constrained supply. Distributors are raising prices as inventory remains tight and mills operate with strong order backlogs. Supported by infrastructure activity and fiscal year-end demand, market sentiment is strengthening, with limited chances of oversupply in the near term.

MS ERW pipe demand is witnessing a gradual recovery, supported by infrastructure projects, while inventory overhang persists due to execution delays. DI pipes continue to see strong demand driven by water infrastructure initiatives, with supply gaps emerging in key regions. Market sentiment remains positive, with rising prices encouraging faster deal closures.

Zinc prices corrected across global exchanges as profit booking followed recent highs. LME, SHFE, and MCX all traded lower amid cautious sentiment and weaker risk appetite. While fundamentals remain stable, short-term momentum has softened, with markets now guided by technical support and resistance levels.

PVC prices surged to multi-year highs as crude crossed $100/bbl and supply disruptions intensified around the Strait of Hormuz. India’s import dependence is tightening availability, while feedstock costs remain elevated. The market remains supply-driven, with near-term bullishness but risk of sharp correction if disruptions ease.

Structural steel prices remain stable across primary and secondary markets, supported by steady infrastructure and project demand. Secondary mills are pushing sales ahead of financial year-end, while traders maintain lean inventories. Prices are expected to stay range-bound, with a mild upward bias driven by closing-quarter demand.

Stainless steel prices strengthened following mill hikes and rising nickel costs. Demand for the 300 series remains stable with selective shortages, while the 200 series continues gaining traction due to limited imports. Energy supply disruptions linked to geopolitical tensions may impact production and keep stainless prices firm.

India’s bitumen market is witnessing rising supply concerns amid escalating geopolitical tensions in West Asia. Domestic refinery prices remain stable, while imported material shows regional variations across ports. Strong demand from highway and infrastructure projects continues to support consumption, with India requiring nearly 9 million tonnes annually.

India’s structural steel market remains firm as mills raise prices by ₹500–₹1,500/MT to offset rising raw material and energy costs. Strong demand from infrastructure, PEB, and warehouse projects continues to support consumption, while falling mill inventories and production cuts at secondary mills tighten supply. Global energy price spikes and China’s capacity curbs are also sustaining the upward momentum in domestic steel prices.

Aluminium prices rebounded as geopolitical tensions and supply concerns lifted market sentiment. Futures on SHFE and LME strengthened after recent volatility, supported by falling inventories and rising raw material costs. However, downstream demand remains cautious, keeping the near-term outlook firm but largely range-bound.

Methanol prices strengthened globally as supply concerns intensified following disruptions around the Strait of Hormuz. China futures surged sharply, lifting Asian spot prices above $300/tonne. India prices ranged between ₹35–41/kg amid rising import parity and varying cargo arrivals, with supply risks dominating current market sentiment.