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Flat steel prices in India show mild day-to-day variations across major markets, with HRC and CRC demand gradually recovering in May 2025. While input costs rise and production increases, concerns persist over global price pressures and supply disruptions. Steel distributors remain cautiously optimistic, banking on infrastructure growth and regulatory support, though rising imports and profit margin pressures remain key challenges.

Primary TMT prices remain stable in major markets, with prices in Mumbai, Delhi NCR, and Vizag holding at Rs 57,500-58,000/MT and Rs 54,000-54,500/MT respectively. Demand has stagnated compared to previous weeks, with distributors holding significant inventory. The market is waiting for price updates after the first week of May, but material availability is not an issue.

The structure market shows strong demand driven by metro, smart city, and housing projects. Primary market prices are stable but set for potential increases as mills deal with high demand and limited production slots. Secondary market activity remains steady, with Raipur and Gobindgarh attracting mid-sized buyers. Early procurement and pre-booking are advised as price hikes loom due to rising input costs.

With contractors rushing to procure pipes before the monsoon, demand—especially for smaller diameter DI pipes—has risen sharply. Market liquidity has improved slightly, helping traders, but several projects still face delays due to pending payments. Pipe prices remain stable, although pressure is building for a potential hike. ERW pipe prices have settled after recent increases, backed by steady demand in both primary and secondary markets.

Global aluminium production increased 2.3% YoY in March, with China nearing its production cap. Inventories declined in both China and Japan, suggesting tightening supply. LME and MCX prices saw a modest rise, reflecting increased buying interest. Export momentum continues, but policy support is critical to sustaining growth.

India's polymer market is witnessing a major shift in 2025, with fewer MoUs and a stronger push toward flexible, spot-based procurement. Prices remain high across key regions, while trading companies and digital platforms gain importance. Polyethylene demand is surging, prompting structural changes in supply strategy and sourcing behavior.

Stainless steel prices in India are holding steady with strong performance in the 200 and 400 series, while the 300 series sees a slow but positive uptick in demand. Import pressures, especially from China and ASEAN countries, have led the Indian industry to seek protection through safeguard duties. Meanwhile, No.4 PVC material demand continues to rise, and retail pricing remains firm.

India's structural steel market is riding strong momentum, especially in the primary segment, driven by government-backed infrastructure and housing projects. Prices have firmed up due to tight supply and higher raw material costs, with lead times stretching into June for heavy sections. Secondary market activity remains healthy with focused restocking and zone-level supply control.

Polymer prices across India witnessed downward pressure amid weak demand and abundant supply. Domestic producers, including HMEL and MRPL, maintained prices regionally, while international PP and PE offers softened. Incentive schemes and maintenance shutdowns hint at attempts to stabilize the market, though bearish sentiment persists heading into May 2025.