Electrical Utilities

Polymer markets remain cautious amid falling crude prices and U.S. tariffs. PE and PP buyers are holding back, anticipating further price drops. PVC demand is hit by cheaper imports, prompting anti-dumping duty action. Key price cuts from JPFL and RIL signal inventory pressure. Markt players await clarity on trade and pricing trends before major moves.

Structural steel prices remain firm across both primary and secondary markets, driven by strong infrastructure execution, robust restocking by fabricators, and full mill order books through mid-May. While primary market prices have seen incremental hikes, secondary prices are also on an upward trend, especially for fast-moving sections. Buyers are advised to act early as mills hint at another round of price hikes by late April.

Primary TMT prices continue to rise across regions amid a market shortage and earlier bulk purchases by contractors in March. India’s steel demand is projected to grow by 8–9% in 2025, with infrastructure and housing continuing to lead consumption. While current prices remain high, they may ease as buying activity slows.

PET prices remain under pressure due to oversupply, weak demand, and falling upstream costs. Despite a slight recovery in Chinese prices, inventories are high and demand sluggish. Crude oil and feedstock volatility continue to erode cost support, keeping the market bearish. Short-term pricing depends on demand revival and production adjustments.

Polypropylene prices in India remain relatively stable, though global markets face bearish pressure. Increased imports, weak demand from key sectors, and geopolitical trade tensions are weighing on sentiment. European supply is ample despite plant outages, and bearish crude trends continue to influence market expectations, potentially keeping PP prices soft in May.

Primary TMT prices increased across Mumbai, Delhi NCR, and Vizag due to increased distributor rates and strong demand from infrastructure projects. India continues to show strong steel consumption despite a global decline, driven by active tenders and capacity utilization. Rising costs and delayed projects, however, are expected to impact overall steel exports.

Nickel and copper prices opened significantly higher. Stainless steel prices remain steady with a slight upward trend across key grades. The 200 series continues to see strong domestic demand due to limited imports, while global trade moves—like US tariffs and EU dialogues—are reshaping sourcing strategies. Experts expect prices to remain strong, especially for 300 and 400 series grades.

Structure prices remain steady to firm across both primary and secondary markets, fuelled by strong infrastructure demand and rising logistics costs. With key tenders from railways and highways in play, mills are operating at capacity and buyers are locking in prices early. A potential import duty decision and high freight costs are further influencing procurement strategies across regions.

Stainless steel prices remain mostly stable despite rising nickel and copper prices. The 200 series continues to show strong domestic demand due to limited imports, while the 300 and 400 series see a mild pickup in activity. Global market developments—including tariffs, anti-dumping measures, and raw material trade moves—are expected to influence pricing and supply dynamics in the coming weeks.