India: ERW patra pipe prices show mixed trends; demand subdued

• Mandi prices up INR 700/t w-o-w, down INR 400/t d-o-d
• HR strip prices rise by INR 100/t w-o-w ex-Raipur

ERW patra pipe (41-60 OD) prices showed mixed trends w-o-w in Raipur and Mandi Gobindgarh. Prices in Mandi rose by INR 700/t w-o-w, while Raipur prices remained stable w-o-w. Current pipe prices are at INR 44,500/t in Raipur and INR 46,300/t in Mandi Gobindgarh. Listed prices are ex-works (exw), excluding 18% GST.

D-o-d, prices fell by INR 100/t in Raipur and Mandi Gobindgarh saw a decline of INR 400/t.

Weekly average prices

Prices in Mandi increased this week, while those in Raipur remained stable compared to the previous week.

Raipur: Prices stood unchanged at around INR 44,500/t exw, as on 28 March.

Mandi: Prices rose by INR 700/t, w-o-w on Friday to INR 46,300/t compared to INR 45,600/t last week.

Market updates

Raw materials prices rise: HR strip (patra) prices rose slightly by INR 100/t w-o-w to INR 44,200/t exw-Raipur as on 28 March compared to INR 44,100/t exw-Raipur on 21 March. Likewise, patra prices in Mandi climbed up by INR 200/t w-o-w to INR 45,000/t exw compared to INR 44,800/t exw a week ago.

Steel billet prices in Raipur went down by INR 50/t w-o-w to INR 41,200/t exw on 28 March, compared to INR 41,250/t on 21 March. Also, billet prices in Mandi recorded a decline of INR 100/t w-o-w to 43,400/t DAP on 28 March, compared to INR 43,300/t DAP on 21 March.

Outlook

The ERW patra pipe market remained slow over the past week, with sluggish buying activity and cautious sentiment among buyers. While prices in Mandi Gobindgarh increased, Raipur witnessed stability amid weak demand. Buyers largely refrained from making bulk purchases, opting for a wait-and-watch approach due to price fluctuations.