- HR strip, billet prices inch up w-o-w
- Trade slows on weak finished steel demand
ERW patra pipe prices (41-60 OD) increased w-o-w on 26 December 2025 in both Raipur and Mandi Gobindgarh. However, the price hike failed to stimulate the market; demand from the finished segment remained sluggish leading to quiet trading. Without strong underlying demand, buyers restricted themselves to essential, need-based purchases.
A source told BigMint: “The market shows signs of an upward movement but recovery is hampered by low demand and tight liquidity. Although these underlying symptoms are bearish, price levels appear resilient and are unlikely to drop”.
Prices in Raipur remained unchanged at INR 40,400/t exw-Raipur on 26 December compared with 24 December. However, prices in Mandi Gobindgarh declined by INR 100/t to INR 42,400/t exw-Mandi Gobindgarh on 26 December from INR 42,500/t on 24 December. Listed prices are exw and excluding 18% GST.
Weekly price trends
Raipur: Prices rose by INR 800/t w-o-w to INR 40,400/t exw-Raipur on 26 December, compared with INR 39,600/t in the previous week. Trade activities in the region remained slow as market participants complained of weak buying interest, with deals largely confined to need-based procurement. Furthermore, “market demand has dipped as most buyers have fulfilled their requirements previously,” a source said.
Mandi: Prices increased by INR 700/t w-o-w to INR 42,400/t exw-Mandi Gobindgarh on 26 December from INR 41,700/t last week. Despite the price hike, trading activity remained sluggish due to weak demand and limited buying interest. Weekly trade volumes were low at approximately 1,000 t. According to a source, “the rapid price increase has discouraged fresh stocking, leading traders to rely on existing inventories. But an uptick in activity is expected as demand improves in the near term”.
Raw materials prices
HR strip (patra): HR strip (patra) prices in Raipur rose by INR 1,200/t w-o-w to INR 40,000/t exw-Raipur from INR 38,800/t on 19 December. Additionally, in Mandi Gobindgarh, patra prices increased by INR 700/t w-o-w to INR 41,400/t exw-Mandi Gobindgarh on 26 December from INR 40,700/t a week ago.
Billet: Billet prices in Raipur rose by INR 350/t w-o-w to INR 37,700/t exw-Raipur on 26 December from INR 37,350/t in the previous week. Moreover, in Mandi Gobindgarh, prices stood at INR 41,000/t exw, up by INR 700/t w-o-w from INR 40,300/t on 19 December.
Outlook
ERW patra pipe prices in Raipur and Mandi Gobindgarh are expected to strengthen in the coming week, supported by rising costs of key raw materials such as HR strips and billets. Market participants anticipate an improvement in demand, which is likely to provide additional momentum to prices.
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