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The Indian polymer market remains subdued amid monsoon-driven demand slowdown and global freight issues. While domestic suppliers offer incentives to stimulate sales, geopolitical tensions—especially the Strait of Hormuz crisis—are driving crude prices higher, impacting raw material costs. BIS compliance deadlines are also reshaping sourcing behavior toward certified domestic suppliers.

Structural steel prices have entered a correction phase across both primary and secondary markets. Weak post-election demand, high yard inventories, and payment delays are prompting mills to slash base prices selectively. Mills are focusing on liquidation and deferred deals, with further destocking expected in the coming weeks. Unless demand picks up, prices may continue to soften across key regions.

Primary TMT prices fell this week across key regions, including Delhi NCR, Mumbai, and Vizag, due to sluggish demand. Sellers continue offering lower rates while maintaining stable inventory levels. Despite the slowdown, supply remains steady without major disruptions. Experts anticipate further price corrections if demand remains weak in the coming days.

PET bottle chip prices remained under pressure amid weak feedstock costs and muted downstream demand. While domestic production dipped due to maintenance, supply remains ample. Export momentum slowed, and high end-product inventories curbed fresh bulk buying. Crude oil weakness and global trade uncertainties are expected to keep prices subdued.

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Primary TMT bar prices have softened across major markets like Mumbai, Delhi NCR, and Vizag, reflecting declining demand and cautious buying behaviour. Despite healthy supply conditions, the market remains sluggish, prompting distributors to cut prices. While production at large firms like JSW Steel remains strong, the near-term market outlook is subdued, with further price corrections possible if demand doesn’t pick up.

The Chinese polypropylene market continued consolidating in May 2025, with wire-drawing grade PP prices dipping 1.18% to $1,030/ton. Stable production, high inventories, and off-season demand weighed on prices. Despite slight export improvements and tariff optimism, buyers remain cautious amid macroeconomic uncertainty and incoming capacity expansions expected to pressure the market further.

Flat steel prices in India remained largely unchanged across key regions, with hot-rolled coil (HRC), cold-rolled coil (CRC), and plate prices showing minimal day-on-day movement. Weak demand from auto, infra, and construction sectors continues to weigh on the market, compounded by weather-related delays. Pressure from low-cost Chinese imports has raised the likelihood of anti-dumping measures.

DI and ERW pipe prices have dropped significantly, with DI pipe rates down 15–20% from recent highs. The decline is attributed to weakened cash flow, delayed projects, and monsoon disruptions. ERW prices have also softened as buyers push for lower rates amid sluggish inventory movement. Manufacturers are offering steep discounts to sustain sales. Current market conditions present an ideal buying opportunity for bulk orders.