Meridian
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Currency is set at the top right. Search is on every page.

The economy on one map,
from raw material to ready money.

Prices from India, China and the world in rupees; 5,500 listed companies with the plants, suppliers and customers their own filings name; ships, storms, launches and branch openings on a live globe; and the links to act on it. Flags are statistics and sources, not buy or sell calls.

New · Commodity → company network

Which listed companies does each price move?

Tap any commodity to see every Indian listed company it hits, directly or through the value chain. Search a company to see all its raw materials and products, coloured by what today's moves mean for its margins.

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Today's daily moves

Direction
Move size

Long-term trends

Companies feel months, not days: these are the price moves that reach margins
Over
At least
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Market heatmap

Every commodity group at a glance. Tap a tile to open its charts
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Processing margins

What plants earn between what they buy and what they sell, in ₹ per tonne, and where that sits in its 1-year range

Gross spreads from daily benchmark prices (fixed input recipes). They exclude power, labour, freight and contracts, so use them for direction and extremes, not as reported margins.

What if…?

Pick a commodity and a price move to see which large listed companies gain or lose
Price move+10%
Choose a commodity to start. Companies that sell it gain when it rises; companies that buy it as an input lose.

Direction and confidence only, not an earnings estimate: size depends on cost share, hedges and pass-through. Links named in a company's own description rank above links inferred from its industry.

Margin sensitivity

How far do operating margins move when a commodity's price moves? Pick a commodity
Choose a commodity to see which listed companies' margins squeeze, lift or hold when its price moves.

For each company that names the commodity in its own business description: year-on-year change in operating margin (points) against the year-on-year price change of that commodity, over its last results quarters. Other inputs, product mix and the demand cycle also move margins, so treat it as an indication.

Pricing power & demand

When producers' selling prices rose, did their volumes hold? Pick a commodity
Choose a commodity to see how its listed producers' implied volumes behaved when prices rose.

Implied volume growth = revenue growth ÷ price growth of the products a company sells (quarterly, year on year). It also carries product mix, other businesses and the demand cycle, so treat it as an indication of pricing power, not a measured elasticity.

Compare companies

Put two or three listed companies side by side on margin pulse, pricing power and margin sensitivity
Pick at least two companies to compare.

Margin pulse is the average 3-month price move of what a company sells minus what it buys. Pricing power and margin sensitivity come from its quarterly results (only for companies that name the commodity in their own business description). Indications from past data, not forecasts.

Cross-market dislocations

Where the same commodity is priced unusually far apart in two markets, versus how far apart they normally are

Both quotes converted to ₹ per common unit at the latest exchange rate, so currency moves are held constant. Gaps also reflect grade, taxes (China quotes include VAT), freight and contract basis, which is why the signal is the change from the usual gap (z-score), not the gap itself. Possible arbitrage or supply tightness in one market; not a trade recommendation.

Ratio & spread chart

Divide any commodity by another: gold/silver, aluminium/copper, steel/coking coal…
÷
Pick two commodities, or tap a preset.

Ratio of prices on the dates both have data. Weights are converted to a common unit when both are quoted in the same currency; otherwise a warning shows and the ratio is of the quoted numbers. The shaded line is the average over the window; the z-score says how far today's ratio is from it.

Margin tailwinds & squeezes

Listed companies ranked by what the last 3 months of price moves mean for what they sell and what they buy
Company size
Rank by

A research signal, not advice. Pulse = average 3-month change in the prices a company sells minus the average for what it buys. It ignores volumes, hedging, contracts and pass-through, so check the company page before acting.

Industry margin scoreboard

Which whole industries face a tailwind or a squeeze from the last 3 months of price moves. Tap one for its companies

Average margin pulse of the listed companies in each industry (weighted by market cap, companies above ₹1,000 cr, industries with 3+ names). The driver shown is the commodity moving most companies' margins in that industry. Direction, not an earnings forecast.

Volatility watch

Commodities whose recent price swings are unusually large or unusually calm versus their own history

"Abnormal 1-month moves" compare the latest 21-observation change with every such change in the commodity's own history (z-score; 2+ means a move of that size is unusual for it), a quick way to spot supply or demand shocks. Volatility = standard deviation of the last 60 observations' moves, ranked as a percentile of the commodity's own history (needs ~2 years of data). "Worst fall" is the largest peak-to-trough drop in the last year. Useful for sizing procurement and hedging risk; it says nothing about direction.

Biggest movers

latest observation vs previous

India official wholesale prices

Every item in India's Wholesale Price Index (Office of the Economic Adviser, DPIIT; base 2022-23 = 100), monthly. It is an index of Indian wholesale prices, not a price, and covers many things no exchange quotes (pulses, tea, tyres, paints, medicines). Changes compare the latest month with 1, 3 and 12 months earlier. "Site price" opens the matching market quote.

Same commodity, every market

India, China, US, Europe and Asia-Pacific quotes, all in ₹ at the latest rate

Every commodity, by group

Tap a group to open its charts. Names are in English. Charts start with one point today and build every trading day.