ERW patra pipe (41-60 OD) prices showed mixed trends w-o-w in Raipur and Mandi Gobindgarh. Prices in Mandi remained stable, while Raipur saw an INR 100/t w-o-w drop in prices. Current pipe prices are around INR 42,800/t in Raipur and INR 44,600/t in Mandi Gobindgarh. Listed prices are ex-works (exw), excluding 18% GST.
D-o-d, prices held steady in Raipur on Wednesday. In contrast, prices in Mandi Gobindgarh slipped INR 200/t compared to the previous day.
Weekly average prices:
Prices in Mandi remained unchanged this week, while prices in Raipur recorded a drop compared to the previous week.
Raipur: Prices dropped by INR 100/t w-o-w on Wednesday to INR 42,800/t from INR 42,900/t on 12 March.
Mandi: Prices remained stable w-o-w on Wednesday at INR 44,600/t.
Demand weakens towards mid-week:
Patra-based pipe prices in Raipur have declined this week, while no changes were observed in Mandi. The drop in raw material prices, along with labour shortages and logistics challenges due to the ongoing Holi festival, may have contributed to the decline and sluggish market demand.
Raw materials price impact:
HR strip (patra) prices decreased by INR 200/t w-o-w to INR 42,600/t exw Raipur as on 12 March compared to INR 42,800/t exw Raipur on 5 March. Likewise, patra prices in Mandi fell by INR 200/t w-o-w to INR 43,600/t compared to INR 43,800/t a week ago.
Steel billet prices in Raipur dropped by INR 150/t w-o-w to INR 39,900/t exw Raipur on 12 March compared to INR 40,050/t last week. However, billet prices in Mandi remained stable w-o-w.
Outlook:
The current market scenario suggests that pipe prices may remain under pressure in the short term due to weak demand and lower raw material prices. However, post-Holi demand recovery and fluctuations in raw material costs will be key factors influencing price movements in the coming weeks.
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