Market News Today

During May's third week, India's secondary steel market initially struggled but later saw price surges due to improved demand. Primary steel market remained stable with ongoing firm prices. Raw material prices held strong, while ferroalloy prices dipped before stabilizing.

In India, secondary structural steel prices fluctuate amid volatile market conditions influenced by sponge iron and billet movements. Meanwhile, primary segment prices stabilize. Challenges persist in supply due to seasonal factors and maintenance works, maintaining a supportive market outlook.

Amidst the Russia-Ukraine conflict, Chinese exports of toluene and xylene surge. This article examines the price dynamics, oversupply challenges, and implications for the gasoline market. Navigate the evolving landscape and proactive strategies for stakeholders.

Indian stainless steel prices soar to 6-month highs, with the 300 series at November 2023 levels. Global nickel prices drive the surge, hitting 8-month highs. Rising input costs prompt major producers to hike prices. Renewal of BIS license sparks concerns for imports.

Indian flat steel, notably HRC, faced stagnant demand and prices, but global prices are gradually improving, prompting speculation about its impact. While initial price hikes occurred in May, uncertainty persists regarding buyers' response to evolving global dynamics, with optimism post-elections for industry performance.

Discover the evolving dynamics of LLDPE, LDPE, and HDPE markets amidst fluctuating prices driven by factors such as crude oil volatility, geopolitical tensions, and global freight rates. Gain insights into regional trends and market sentiments shaping the polymer industry landscape.

This week, primary TMT prices surged while the secondary market declined. RINL's closure and SAIL's maintenance shutdown contribute to supply shortages. Despite short-term pressure in the secondary market, hope for market rebound exists.

Benzene prices are fluctuating due to operational resumptions, demand dynamics, and supply forecasts. Despite current highs, factors like styrene prices and operational rates in China impact the market outlook, urging stakeholders to monitor trends for informed decisions.

Recent surges in the Indian scrap market gave way to caution due to softening steel prices. May '24 saw volatility, yet prices remain relatively high, suggesting stability amid cautious optimism for future demand.

RINL faces closure amid coking coal scarcity. Adani Gangavaram Port protests disrupt supplies. Analysts foresee higher TMT prices. Despite mill hikes, steel scarcity may sustain elevated rates, urging manufacturers to maintain pricing.