Market News Today

Nickel opened higher today, boosting stainless steel price sentiments. Imported 200-series stainless steel remains in short supply, driving up domestic demand. Cash constraints have limited significant improvement in 300-series demand, while 400-series prices stay strong due to BIS regulations. Meanwhile, Taiwanese mills have raised 300-series prices, citing currency fluctuations and global cost pressures.

Chandigarh retains control of State Transmission Utility, State Load Despatch Centre, and electrical inspector functions, with 46 designated posts despite power distribution privatization.

The ABS polymer market remained stable in January, with slight price increases in some grades. Production fluctuated, impacting inventory levels, while raw material prices remained firm. Demand spiked pre-holiday but slowed during the Spring Festival. The market is expected to stabilize in February, with prices influenced by supply adjustments and raw material costs.

Central government halts funding for three J&K hydropower projects (Kiru, Ratle, Kwar) totaling 1964 MW, risking construction due to J&K's financial constraints.

Mahindra opens bookings for XEV 9e and BE 6 electric SUVs on Feb 14, 2025, with deliveries starting mid-March 2025. Customers can register preferences from Feb 6.

The auto industry explores hybrid tech and alternative fuels like waste plastic. Autonomous driving's future is debated, with some focusing on driver assistance. Indian tech companies see opportunities amidst geopolitical challenges.

Gurugram's metro network will expand by 28.5 km with 27 elevated stations connecting Millennium City Centre to Cyber City. The ₹5,452.72 crore project, starting May 1, 2025, is funded by central (₹896.19 crore) and Haryana (₹4,556.53 crore) governments.

Iraq aims to boost oil production to 7 million bpd in 5 years, potentially reaching 12-13 million bpd with improved strategies like the stalled Common Seawater Supply Project.

Pakistan's gas price hike for power generation, now at $15 per mmBtu, threatens its $60B export goal by 2027, making industries less competitive than Bangladesh or Vietnam.

Tata Chemicals posted a Q3 loss due to lower soda ash prices and higher US costs, despite increased sales volumes.