Infrastructure & Construction

Zinc prices saw small gains across LME, SHFE, and MCX, though fundamentals remain bearish with ILZSG projecting a 2025 surplus. LME stocks fell sharply by 3,450 t, hinting at short-term tightness. Delays at Russia’s Ozernoye mine could limit concentrate supply, but oversupply concerns keep upside potential restrained.

Flat steel prices remained stable across key cities. While local trade activity picked up slightly, overall sentiment remains weak due to excess imports and tepid industrial demand. Government support and upcoming policy shifts may stabilize the market, but caution persists. Buyers are mostly purchasing only on a need basis.

Secondary structural steel prices increased by ₹300–₹600/MT due to tight supply, active fabrication demand, and logistical constraints. The primary market remains stable with selective buying. Mills are ramping up utilization, while localized shortages are emerging in key sections. Buyers should consider near-term bookings amid improving site activity and potential post-monsoon recovery.

Zinc prices showed mixed trends across LME, SHFE, and MCX. LME stocks continued to fall, signaling tighter supply, but weak demand—especially in construction—keeps overall sentiment bearish. SHFE zinc gained slightly on supply expectations. MCX futures dipped below previous close, reflecting domestic pressure and a cautious global outlook.

Steel prices have increased across regions due to supply shortages caused by maintenance activities at the Angul and Dolvi plants. Despite the usual monsoon lull, demand remains steady. Imports dropped 28.8% in Q1 FY2025, mainly from China and Japan. Domestic producers are adjusting pricing and production strategies amid rising orders and low distributor inventories.

Stainless steel prices remain stable in the 300 series, while the 200 and 400 series are witnessing strength due to limited imports and rising demand. Nickel is trading at $15,269/ton and copper at $9,793/ton. Scrap procurement remains active. Jindal Stainless has entered a strategic partnership with Gati Shakti Vishwavidyalaya to promote research and academic collaboration in steel applications.

Zinc prices remain stable across LME, SHFE, and MCX, though market sentiment stays bearish due to oversupply concerns. ILZSG forecasts a global surplus of 93,000 t in 2025. Treatment charges have hit a five-year low, reflecting weak market fundamentals. MCX zinc is trading near resistance, but a strong demand revival is needed to break the upside cap.

Rebar prices showed mixed trends across Indian markets, rising in regions like Ahmedabad and Jalna due to cost-push and buying interest. Monsoon disruptions and mill shutdowns are limiting supply in pockets, while global markets remain steady to muted. Prices are expected to remain firm in the short term, with regional differences.

Prices for both DI and MS ERW pipes remained steady despite weak demand caused by monsoon-related project delays and funding bottlenecks. DI pipe producers are fulfilling older bookings with extended lead times, while MS ERW manufacturers are offering discounts to clear high inventories. Meanwhile, Maruti Ispat launched a new ERW pipe brand—MS VAYU, and Tata Metaliks is expanding its DI pipe range to 1200 mm, anticipating stronger demand post-monsoon.