Electrical Utilities
Nexizo is your one-stop platform for all electrical goods news, electrical product prices, and government tenders for the procurement of wires and other similar...
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Daily Market Report
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Indian HRC Market Faces Pressure Amid Weak Demand and Oversupply Concerns
Flat steel prices remained largely unchanged across key Indian markets. Weak domestic demand, inventory pressures, and cautious production by smaller mills keep HRC under stress. Exports hit a 1.5-year high in September, driven by EU and Middle East shipments. Market sentiment remains cautious amid policy uncertainty and potential safeguard duties.
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TMT Bar Prices Edge Up on Festive Demand and Post-Monsoon Recovery
TMT bar prices remained largely stable with a mild upward trend across regions. Improved post-monsoon demand and festive season buying are driving gradual recovery. Primary mills announced a ₹1,000/ton price hike, supported by healthy distributor inventories and stable supply. The sector also saw key policy and sustainability developments.
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Zinc Prices Steady Amid Tight Supply and Dollar Strength
Zinc prices remained steady across global exchanges, supported by tight inventories and stable refined output. LME futures hovered near USD 2,950/MT, while MCX traded close to ₹291.45/kg. Despite dollar strength and subdued volatility, low LME stocks continued to provide price support amid mixed global market sentiment.
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India’s Aluminium Market Balances Tight Domestic Demand with Emerging Supply Pressures
Aluminium prices gained slightly on the LME and in India as Hindalco and Balco raised ingot rates by ₹3,500/MT. Domestic premiums remained firm due to healthy local demand, while the LME Asian Reference price declined 1.8%, reflecting regional weakness. BALCO’s new 525 kA smelter signals future capacity expansion.
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PP and PE Prices Decline Across China and India Amid Regional Downtrend
Polyethylene and Polypropylene prices softened in early October amid weak downstream demand, high inventories, and muted buying in Asia. While crude oil strength offered limited cost support, both domestic and imported prices trended lower. Market sentiment remains cautious, with limited restocking expected until post-Diwali demand recovery.
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Jindal Stainless Expands Fabrication Capacity Amid Mixed Demand Trends in Stainless Steel Market
Stainless steel HRC and CRC prices remained steady across Delhi, Mumbai, and Kanpur, supported by firm realizations despite minor volume drops. Jindal Stainless expanded fabrication capacity in Mumbai, signaling confidence in infrastructure-led demand growth. Shyam Metalics reported lower sales but higher realizations, indicating stable pricing strength amid short-term supply pressure.
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Zinc Prices Hold Firm Above $3,000/MT Amid Falling Inventories and Chinese Supply Strength
Zinc prices held steady across global exchanges as tightening inventories and improved domestic demand supported sentiment. LME futures hovered above $3,000/MT, while HZL and Vedanta reported record production for H1 FY26. Despite firm fundamentals, upside potential appears limited unless fresh supply disruptions emerge in key producing regions.
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Structural Steel Market Steady with Cautious Sentiment; Secondary Sector Gains Post-Monsoon Momentum
Channel steel prices remained steady this week, with the secondary market showing renewed firmness post-monsoon. Primary mills maintained base levels amid cautious trading. Tight supply in Raipur and Mandi Gobindgarh supports a mildly bullish near-term outlook. Buyers are advised to secure short-term needs before potential price increases mid-October.
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India’s HRC Market Faces Short-Term Constraints but Medium-Term Demand Outlook Remains Strong
Markets reported no price changes in HRC and CRC compared to the previous day in a few geographical locations. India’s HRC demand is expected to remain strong in the medium term, but short-term consumption is limited due to cautious buyer sentiment.
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