- Buyers show resistance to accepting higher prices
- Trade slows, buyers make need-based purchases
ERW patra pipe prices (41-60 OD) declined w-o-w on 9 January 2026 in both Raipur and Mandi Gobindgarh, following a drop in raw material prices. Trade activity in both regions remained slow due to weak end-user demand.
A source indicated at the beginning of the week that customers were not willing to buy at elevated levels (following price hikes in previous weeks) and needed time to absorb the recent price hike: “There may be a correction over the next few days, only after which buying interest may improve slightly.”
Weekly price trends
Prices in both Raipur and Mandi Gobindgarh declined w-o-w.
Raipur: Prices dropped by INR 1,100/t w-o-w to INR 42,500/t exw-Raipur on 9 January from INR 43,600/t on 2 January. Trade activity in the region remained slow, with purchases largely limited to need-based procurements.
Mandi: Prices fell by INR 1,500/t w-o-w to INR 44,500/t exw-Mandi Gobindgarh from INR 46,000/t a week earlier. Weak demand from the finished segment resulted in limited buying interest and low trading volumes in the region.
On a d-o-d basis as well, prices declined, with Raipur’s prices falling by INR 200/t to INR 42,500/t exw on 9 January from INR 42,700/t on 8 January 2026. However, prices in Mandi Gobindgarh remained stable d-o-d at INR 44,500/t exw on 9 January. Listed prices are ex-works (exw) and exclude 18% GST.
Raw materials prices
HR strip (patra): HR strip (patra) prices in Raipur fell by INR 1,100/t w-o-w to INR 42,200/t exw on 9 January from INR 43,300/t on 2 January 2026. In Mandi Gobindgarh, patra prices declined by INR 1,500/t w-o-w to INR 43,500/t exw from INR 45,000/t a week ago.
Billet: Billet prices in Raipur dropped by INR 1,550/t w-o-w to INR 39,700/t exw-Raipur on 9 January from INR 41,250/t in the previous week. In Mandi Gobindgarh, prices stood at INR 42,600/t exw, down by INR 900/t w-o-w from INR 43,500/t on 2 January 2026.
Outlook
ERW patra pipe prices are expected to fall in the coming week amid persistently weak finished steel demand and buying driven mainly by immediate requirements. Declining raw material costs, as seen in w-o-w drops in HR strip and billet prices, continue to exert downward pressure on the market. In the absence of a meaningful improvement in end-user demand, prices in both Raipur and Mandi Gobindgarh are likely to remain under pressure.
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