Market News Today

India's steel exports surged in FY26, driven by trade policies, a weaker rupee, and global demand. This strengthens its global market position, balancing domestic needs with sustainability and navigating global risks.

India needs $20-25 billion investment in iron ore production to achieve its 400 million tonnes steel capacity target over the next decade. This is crucial for infrastructure growth, addressing supply chain gaps, and preventing price volatility.

India's steel producers will hike hot rolled coil prices by up to ₹3,500/tonne due to rising raw material costs and global trends. This will increase construction and infrastructure project costs, despite strong demand.

BSL partners with Forbes Marshall to launch hydrogen gas injection tech in blast furnace-1, a pilot under National Green Hydrogen Mission. This aims to cut carbon emissions in steel manufacturing, aligning with India's 2070 net-zero goal.

Global steel market remains stable, but Indian panic is misleading. Fundamentals show no real downturn, with Iran supply disruptions and steady crude indicating uncertainty. Traders advised to rely on ground realities.

Indian steel companies plan ₹3,500/tonne HR coil price hike to ₹64,500/tonne in April, with CR coils rising ₹3,000/tonne, driven by rising raw material, energy costs, and geopolitical tensions.

China's Q1 PVC exports are estimated to hit 1.20 million tonnes, driven by strong growth. This surge follows the government's announcement to abolish the value-added tax export rebate for PVC from April 1, 2026, accelerating deliveries.

An April 7, 2026 attack on Saudi Arabia's Jubail Industrial City disrupted global PE supply, driving up Chinese PE prices. Tight supply is expected, potentially benefiting China's chemical exports.

China's BPA output rose 6.92% YoY to 1.213 million tonnes in Q1 2026, driven by new capacity and fewer losses. Prices increased due to tightened supply and profitability. Short-term tightening expected.

Blast in Jubail Industrial City pushes up MEG prices to five-year high. MEG Global Import/Export Price. A major attack on Saudi Arabia's critical petrochemical infrastructure in the Jubail Industrial City on April 7 triggered a sharp rise in MEG prices, and China's MEG prices climbed higher to a five-year high. The attack, which struck one of the world's largest petrochemical hubs, sent shockwaves through global energy and chemical markets. The shutdown of core production facilities led to a sharp reduction in global available supply of ethylene glycol (MEG) in the short term, and the attack on Saudi Arabia's petrochemical.