India: ERW patra pipe prices drop sharply w-o-w on weak demand

• Raw material prices fail to offer support
• Buying may remain slow in cautious market

ERW patra pipe (41-60 OD) prices dropped w-o-w in Raipur and Mandi Gobindgarh. Raipur prices declined by INR 800/t w-o-w, while those in Mandi fell by INR 900/t w-o-w. Current pipe prices are at INR 45,100/t in Raipur and INR 46,100/t in Mandi Gobindgarh. Listed prices are ex-works (exw), excluding 18% GST.

On a d-o-d basis, prices fell by INR 200/t in Raipur. Moreover, prices declined by INR 100/t in Mandi.

Weekly average prices

Prices in Raipur as well as those in Mandi fell compared to the previous week.

Raipur: Prices stood at around INR 45,100/t exw on 18 April, down by INR 800/t from INR 45,900/t on 11 April.

Mandi: Prices fell by INR 900/t, w-o-w on Friday to INR 46,100/t compared to INR 47,000/t last week.

Market updates

Raw materials prices drop: HR strip (patra) prices fell by INR 800/t w-o-w to INR 44,800/t exw-Raipur as on 18 April compared to INR 45,600/t exw-Raipur on 11 April. Likewise, patra prices in Mandi declined by INR 900/t w-o-w to INR 45,100/t exw compared to INR 46,000/t exw a week ago.

Steel billet prices in Raipur went down by INR 700/t w-o-w to INR 41,150/t exw on 18 April, compared to INR 41,850/t on 11 April. Also, billet prices in Mandi recorded a decline of INR 650/t w-o-w to 43,300/t DAP on 18 April, compared to INR 43,950/t DAP on 11 April.

Outlook

The ERW Patra pipe market remained under pressure due to sluggish demand and a drop in raw material costs like HR strips and billets. Going forward, raw material price trends will be a crucial factor in determining market direction, with any recovery likely hinging on improved demand.