- Trade activities slow down ahead of holidays
- Billet prices remain unchanged w-o-w
ERW patra pipe (41-60 OD) prices showed a mixed trend week-on-week (w-o-w) in Raipur and Mandi Gobindgarh. Buyers came out to restock, giving some boost to trade activities in the first couple of days of the week; however activities slowed down with the weekend holidays approaching.
“Buying activities were better in the first couple of days. However, the long weekend prospects this week weighed on activities,” a central India-based industry participant shared.
W-o-w price trends
Raipur: Prices were up by INR 300/tonne (t) w-o-w to INR 41,400/t on Friday against INR 41,100/t a week ago. Trade volumes of 840 t were recorded this week.
Mandi: Prices edged down by INR 100/t w-o-w to INR 43,700/t on 14 August against INR 43,800/t on 8 August. Trade volumes of 1680 t were recorded this week.
D-o-d price trends
D-o-d, prices remained rangebound in Raipur and Mandi Gobindgarh. Listed prices are ex-works (exw), excluding 18% GST.
Raw material price impact
Prices of key raw materials such as hot-rolled strips (patra) and billets also showed diverging trends in Raipur and Mandi markets.
HR strip (patra) prices trended up by INR 300/t w-o-w to INR 41,200/t exw-Raipur as on 14 August against INR 40,900/t last week. Patra prices dropped INR 100/t to INR 42,700/t exw-Mandi as on 14 August against INR 42,800/t last week.
Steel billet prices in Raipur remain unchanged w-o-w at INR 37,500/t exw on 14 August. On similar lines, billet prices in Mandi were assessed at INR 40,500/t DAP on 14 August, unchanged against the last week’s levels.
Outlook
ERW patra pipe prices are likely to move in an upward direction in the upcoming week. The anticipation about a pickup in demand in the latter half of the month is still rife, and market participants are hopeful that trade activities shall improve with buyers coming out with requirements as the monsoon phases out by the month-end.
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