Daily Market Report
Tune in to daily market reports on Nexizo to gain insights on the latest market trends.

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DI Pipe Prices Crash as Fund Delays Bite; ERW Holds Steady
The DI pipe market is under pressure due to sluggish demand, early monsoons, and delayed government fund releases, pushing manufacturers to offer lower prices. In contrast, the ERW and MS pipe segments are holding steady with consistent demand and prices. Experts suggest contractors consider advance bookings while DI pipe prices remain low, especially with signs of fund flows beginning in Madhya Pradesh.
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Brazil May Impose ADDs on US, Canada PE; Indian Importers Eye Market Ripple
Brazil’s polyethylene (PE) market is experiencing a surge in prices and demand amid expectations of antidumping duties (ADDs) on US and Canadian imports. Domestic supply remains tight, and distributors are passing on cost increases. Gecex is set to decide on ADDs by 29 May, potentially reshaping Brazil’s import dynamics.
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Geopolitical Shifts and Supply Constraints Stir Volatility in Global Oil and Bitumen Markets
Global bitumen and crude oil markets experienced mixed trends last week. Crude prices dipped due to rising inventories and demand concerns. Bitumen prices rose in Singapore but fell in India. Iran faces production issues, while geopolitical tensions and OPEC+ supply changes contribute to market volatility heading into June.
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Pyridine Market Mixed: 2-Picoline Demand Steady; 3-Picoline Weakens on Niacinamide Slowdown
The Indian Pyridine market showed a mixed trend this week. While 2-Picoline prices remained supported by seasonal agrochemical demand, 3-Picoline saw price weakness due to subdued Niacinamide consumption. Jubilant Life Sciences ramped up Niacinamide output, potentially increasing supply. Overall sentiment remains cautious, with selective downstream sectors driving demand.
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India’s Petroleum Exports Dip on Refinery Woes, Global Headwinds
Oil and gas prices across India remain steady, but exports of petroleum products dropped sharply by 35% YoY in April 2025 due to reduced HSD and ATF shipments and planned refinery maintenance. While short-term volumes may remain subdued, upcoming capacity expansions and stable demand are expected to support future recovery.
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TMT Prices Dip Further as Demand Stalls; Tata Steel Expands Capacity
TMT prices have declined across Mumbai, Delhi NCR, and Vizag due to muted demand. Distributors hold adequate inventory, ensuring stable supply. Despite steady inquiry levels, weak buyer sentiment prevails. Tata Steel’s Kalinganagar plant expansion boosts Odisha's crude steel capacity, signaling long-term optimism, though short-term market conditions remain soft.
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India Eyes Iranian Crude Amid Supply Dips and Middle East Tensions
India’s crude demand is rising, while production and exports dip. Bitumen and base oil prices hold steady. The government’s push for over 100 domestically built crude tankers will boost energy security and shipbuilding. Geopolitical risks and global tensions drive volatility, prompting interest in Iranian crude to diversify supply sources.
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Indian VAM Prices Dip on Sluggish Demand; Supply Set to Improve with Celanese Restart
Vinyl Acetate Monomer (VAM) prices in India declined by ₹1/kg due to weak demand from paints and adhesives sectors. While April saw tight supply, upcoming shipments and Celanese’s plant restart are expected to ease concerns. Market participants anticipate further price corrections as demand slows and importers hold off on fresh buys.
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PET Chip Market Faces Bearish Pressure Amid Cost Weakness and Oversupply Concerns
Wankai PET prices stable across Indian ports despite weak cost fundamentals. Industry margins decline to -44 USD/ton due to low raw material prices and high polymerization costs. China's aggressive PET production and oversupply continue to suppress Asian market prices. Jindal Films fire disrupts BOPP supply, triggering sharp price hikes and market panic.
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Indian Toluene Market Sees Price Correction on Weak Crude, Tepid Demand
Toluene prices in the domestic Indian market saw a downward revision of ₹1/kg, as importers adjusted rates amid falling crude benchmarks and sluggish downstream demand. Bulk deals from importers were quoted at ₹64.50++ per kg (ex-Kandla) and ₹65.50++ per kg (ex-Mumbai) for 60-day payment terms. Meanwhile, trader offers were reported at ₹66++ per kg (ex-Mumbai) and ₹65.75++ per kg (ex-Kandla) under similar credit terms.
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Primary TMT Prices Slip Again as Demand Remains Tepid
Primary TMT prices have continued to slide this week across major markets, reflecting a stagnant demand trend and cautious buyer sentiment. Distributors are maintaining healthy inventory, ensuring no immediate supply concerns. However, the overall market remains subdued, with manufacturers offering steeper discounts and eyeing further corrections if demand fails to pick up.
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India’s Oil Output and Exports Decline Amid Tepid Refinery Activity in April
India’s base oil market remains soft, with region-wise price disparities and a weak outlook. Declines in crude production, refinery throughput, and petroleum exports are pressuring margins. While bulk and barrel-packaged oil prices remain stable, market sentiment is bearish due to muted demand, subdued exports, and volatile global oil trends.
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