Market News Today

India’s stainless steel market moved higher amid a sharp rise in LME nickel prices and tightening global alloy supply. While domestic demand from infrastructure, railways, and automotive sectors remains supportive, cautious buying sentiment and rising Chinese imports continue to pressure market activity. Stainless steel prices in India are expected to remain firm near term.

Aluminium prices in India remained firm this week as Middle East supply disruptions, tight scrap availability, and strong automotive demand supported global and domestic markets. While LME aluminium stayed elevated above $3,500/t, Chinese markets faced pressure from rising inventories. Indian demand from EVs, infrastructure, and engineering sectors continues supporting aluminium consumption.

Zinc prices in India remained firm this week as strong global metal sentiment, stable downstream demand, and tight near-term supply supported the market. MCX Zinc Futures continue to trade in an uptrend, while buyers from galvanizing and infrastructure sectors remain active. Market participants are closely tracking resistance near ₹355/kg.

The Indian structural steel market is currently witnessing a phase of "Cautious Stability." While demand remains anchored by government infrastructure projects, price consolidation is the dominant theme. Integrated players are maintaining firm rates due to coking coal costs, while secondary producers in regional hubs offer competitive arbitrage opportunities for bulk procurement.

Copper prices in India remain firm, supported by strong demand and global cues, despite rising domestic production. New capacity additions are boosting supply, but heavy reliance on imported raw materials continues to create volatility. With strong demand from infrastructure and EV sectors, the market outlook stays positive but cautiously dependent on global supply conditions.

DI pipe prices remain firm in India, supported by strong demand from infrastructure and water projects, while supply constraints persist. MS ERW pipe prices are stable with a slight upward bias, despite elevated inventory levels. Demand recovery is gradual across regions, and improved buyer activity is expected to support market sentiment in the near term.

N-Butanol prices today declined in both India and China due to weakening cost support from falling propylene prices and subdued downstream demand. Market sentiment remains cautious, with buyers adopting need-based purchasing. In the near term, prices are expected to stay weak and range-bound amid balanced supply and limited demand recovery.

Polymer prices today in India are declining due to weak demand, high inventory, and falling global offers. Southeast Asia’s oversupply is expected to increase imports into India, intensifying price pressure. While crude oil remains firm, market sentiment is bearish, with buyers adopting cautious procurement and expecting further price corrections in May.

Base oil prices today have surged globally due to crude oil rally and severe supply disruptions caused by geopolitical tensions. Limited spot availability and reduced refinery output are tightening the market. In India, prices remain elevated, with strong automotive demand but constrained supply driving cautious procurement and bullish near-term outlook.

TMT steel prices in India have softened slightly due to weak demand at the start of the month, with prices declining across key regions. While supply remains steady and inventories are limited, rising fuel costs may support prices. Overall, the market is expected to remain stable with minor fluctuations in the near term.