Market News Today

Singareni Collieries Company Limited plans to boost its solar energy capacity from 245 MW to 540 MW in 2025, and further to 3,000 MW.

Union Minister Dharmendra Pradhan inaugurated a plastic bag manufacturing unit at the Plastic Park in Odisha's Jagatsinghpur district. The automated plant, developed by Energon Polymatics, has a processing capacity of 500 metric tonne per month and will provide employment to many.

Oriental Energy Maoming plans to restart its Polypropylene (PP) Units in Guangdong, South China. The facility has a production capacity of 400,000 tons per year.

Mono Chloro Acetic Acid (MCAA) prices have increased by ₹3/kg due to rising Acetic Acid costs. Strong demand from agrochemical and pharmaceutical sectors, particularly for 2,4-D and Ibuprofen production, supports this trend. Indian manufacturers operate at high capacities, and experts predict continued price hikes amidst robust demand and elevated feedstock costs.

LME zinc prices increased marginally to $2,972.5/mt, supported by inventory declines, while SHFE zinc recorded bearish momentum, closing at 24,820 yuan/mt. A global zinc deficit of 69,100 mt emerged in October due to reduced production in China, Canada, and Peru, driven by economic challenges and supply constraints.

China's PTA exports surged in November due to India's robust purchases, solidifying India's importance as a key market for Chinese PTA.

Supriya Lifescience Ltd. inaugurated a new multipurpose Active Pharmaceutical Ingredients (APIs) production block at its Lote Parshuram site in Maharashtra.

For PP Homo (Rs./MT): ≥ 75% = R1 as Rs. 500/MT ≥ 100% = R2 as Rs. 1000/MT ≥ 125% = R3 as Rs. 1500/MT For PP ICP (Rs./MT): ≥ 75% = R1 as Rs. 1500/MT ≥ 100% = R2 as Rs. 2000/MT ≥ 125% = R3 as Rs. 2500/MT For PP RCP (Rs./MT): ≥ 75% = R1 as Rs. 2000/MT ≥ 100% = R2 as Rs. 2500/MT ≥ 125% = R3 as Rs. 3000/MT

Crude oil prices rose as the U.S. avoided a government shutdown, boosting demand sentiment. A lower-than-expected inflation gauge fueled hopes of future rate cuts, while fears of a U.S.-EU trade war lingered. The resumption of Druzhba pipeline shipments eased European supply concerns.

Polymer markets show price variability across grades and locations, with ABS and HDPE prices reflecting current trends. Demand for engineering-grade polymers like ABS and nylon remains weak, with no recovery signs. Meanwhile, stable feedstock prices and shifts in market dynamics indicate a buyer-dominated environment.