- Elevated prices curb buying interest
- Buying remains need-based, cautious
ERW patra pipe prices (41-60 OD) increased w-o-w on 23 January 2026 in both Raipur and Mandi Gobindgarh, driven by a rise in raw material prices. Prices edged higher on a d-o-d basis as well, with Raipur witnessing a rise of INR 200/t to INR 43,600/t exw on 23 January from INR 43,400/t on 22 January 2026. In Mandi Gobindgarh, prices increased by INR 500/t to INR 46,000/t exw on 23 January from INR 45,500/t a day earlier. Listed prices are ex-works (exw) and exclude 18% GST.
Market sentiment remains cautious, with buyers holding back at elevated prices. A BigMint source indicated, “Trade activity was slow, and we are focused on dispatching previously booked orders, as buyers have adopted a wait-and-watch approach amid expectations of lower prices.”
Weekly price trends
Prices in both Raipur and Mandi Gobindgarh increased w-o-w.
Raipur: Prices inched up by INR 100/t w-o-w to INR 43,600/t exw-Raipur on 23 January from INR 43,500/t on 16 January 2026. A BigMint source noted that, “finished steel demand remains weak, with buying interest likely to improve only when prices show some sign of stability and market direction becomes clearer.”
Mandi: Prices rose by INR 800/t w-o-w to INR 46,000/t exw-Mandi Gobindgarh on 23 January from INR 45,200/t a week earlier. Trading activity was recorded at around 750 t for the week. A source noted that, “prices may ease in the coming week as buyers remain unwilling to purchase at current elevated levels, with trading activity expected to pick up only thereafter.”
Raw materials prices
HR strip (patra): HR strip (patra) prices in Raipur inched up marginally by INR 100/t w-o-w to INR 43,000/t exw on 23 January from INR 42,900/t exw on 16 January 2026. In Mandi Gobindgarh, patra prices rose by INR 800/t w-o-w to INR 45,000/t exw from INR 44,200/t a week ago.
Billet: Billet prices in Raipur rose by INR 250/t w-o-w to INR 41,000/t exw on 23 January from INR 40,750/t in the previous week. In Mandi Gobindgarh, prices stood at INR 44,600/t exw, up by INR 1,100/t w-o-w from INR 43,500/t on 16 January 2026.
Outlook
ERW patra pipe prices are likely to remain volatile in the near term as elevated raw material costs continue to support prices, while weak finished steel demand and cautious buyer sentiment persist. Price direction will largely depend on raw material trends, with buying interest restrained at current levels. Some correction or stabilisation may revive buying once price clarity improves, but overall market sentiment is likely to remain mixed unless end-user demand improves.
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