Railways

PVC K67 prices in Mundra range from ₹64,500 to ₹68,750/MT, with Chinese SG5 grades leading on price. Despite strong 10% YoY demand growth, oversupply and Chinese dumping have pressured international prices, now 25% lower than FY 2022–23. India’s PVC market is poised for structural change, with BIS certification and anti-dumping duties kicking in by mid-2025.

Zinc prices showed mixed movement across global exchanges. LME zinc edged higher on rising geopolitical risks and weak US job data, while SHFE zinc declined due to softening domestic demand and higher inventories. With China’s PMI weakening and global trade tensions escalating, demand remains under pressure. However, tightening global supply and low LME inventory levels are helping to cap further downside.

In the first week of June 2025, polyethylene (PE) product prices remained largely stable across LDPE, LLDPE, and HDPE categories. Downstream demand from agricultural and packaging films remained supportive, but segments like raffia and injection moulding showed weaker activity. HDPE supply constraints continue due to maintenance shutdowns. Market sentiment suggests limited price upside without stronger demand or feedstock cost increases.

HDPE prices across Asian markets remained mostly unchanged this week. In India, subdued demand and limited spot imports kept the market quiet, with expectations of better domestic supply from upcoming plant restarts. With monsoon season approaching and Eid holidays nearing in the Middle East, market sentiment remains cautious and volumes tight.

Structure steel prices witnessed a modest upward correction this week, with improved liquidity and resumed infrastructure billing boosting market sentiment slightly. While base prices remain steady, mills are open to discounts for volume buyers. Dealers are cautiously optimistic, though logistics concerns around the upcoming monsoon season could affect movement.

PP prices in Delhi remain steady, with PPCP random grades peaking at ₹1,09,000/MT. Chinese PP prices dipped 0.74% in May, reflecting stable but subdued demand. While supply remains ample with upcoming capacity additions, off-season demand and high inventories are capping price momentum. Market expected to stay in consolidation.

Primary TMT prices have dropped across major regions due to stable but subdued demand and distributors adopting competitive pricing. With no major shifts in inquiry levels, the market remains weak. Meanwhile, global sentiment took a hit after former U.S. President Donald Trump announced a doubling of steel import tariffs, leading to a dip in Indian metal stocks. Supply conditions remain steady, but continued low demand could prompt further price cuts ahead.

Chinese PET bottle chip prices saw sharp fluctuations in May 2025, rising to ¥6,185/ton mid-month due to crude and feedstock gains, then easing to ¥6,077/ton amid supply pressure. High inventories, policy uncertainty, and weak demand kept recovery in check. A seasonal uptick may occur if beverage demand strengthens.

Styrene Monomer prices strengthened across Asia despite weak crude trends, with Indian bulk imports priced at ₹82/kg. Domestic Styrene Copolymer markets remained subdued in April, but demand is expected to rebound from June. Upstream benzene prices firmed up, while traders anticipate steady price hikes due to seasonal demand and tighter supply.