India: ERW patra pipe prices fall w-o-w on lower input costs, weak demand

• HR strip, billet prices decline w-o-w
• Trade slows, buyers largely make need-based purchases

ERW patra pipe prices (41-60 mm OD) declined in the week ended 20 February 2026 in both Raipur and Mandi Gobindgarh, after reaching a six-month high in the previous week. The correction was primarily driven by a decline in raw material prices, coupled with subdued downstream demand, which weighed on overall market sentiment in both regions.

Trade activity across the two regions remained largely need-based amid weak end-user demand. However, toward the end of the week, market participants turned cautiously optimistic, anticipating a gradual recovery in demand and a potential improvement in trading activity in the coming days, as enquiries began to pick up gradually.

On a d-o-d basis, Raipur prices fell by INR 100/t to INR 43,200/t ex-works (exw) on 20 February compared with INR 43,300/t exw on 19 February. However, prices in Mandi Gobindgarh remained stable d-o-d at around 46,100/t exw on 20 February. Listed prices are ex-works and exclude 18% GST.

Weekly price trends

Raipur: Pipe prices in Raipur declined by INR 900/t w-o-w to INR 43,200/t exw Raipur on 20 February, compared with INR 44,100/t on 13 February. Trade activity in the region remained subdued, with purchases largely limited to need-based procurement. Market sentiment stayed cautious, as buyers adopted a wait-and-watch approach amid falling prices to avoid potential losses from further downside, with buying interest expected to pick up once prices show some signs of stability.

Mandi Gobindgarh: Pipe prices in Mandi Gobindgarh fell by INR 900/t w-o-w to INR 46,100/t ex-works (exw) Mandi Gobindgarh on 20 February, from INR 47,000/t a week earlier. Buying activity remained muted, as consecutive price corrections kept market participants cautious, resulting in weak order inflows and transactions largely limited to immediate requirements. A BigMint source indicated that, “relatively lower-priced offers from neighbouring regions are exerting pressure on the market. With buyers negotiating aggressively at lower levels and leveraging alternative supply options, local suppliers are facing intensified competition to secure sizeable orders.”

Raw material prices

HR Strip (Patra): HR strip (patra) prices in Raipur fell sharply by INR 1,100/t w-o-w to INR 42,600/t exw on 20 February from INR 43,700/t exw on 13 February. Meanwhile, patra prices in Mandi Gobindgarh dropped by INR 900/t w-o-w to INR 45,100/t exw, down from INR 46,000/t a week earlier.

Billet: Billet prices in Raipur dropped by INR 1,100/t w-o-w to INR 40,550/t exw on 20 February, compared with INR 41,650/t in the previous week. In Mandi Gobindgarh, billet prices stood at INR 43,800/t DAP, down by INR 1000/t w-o-w from INR 44,800/t on 13 February.

Outlook

ERW patra pipe prices may gradually strengthen in the coming week, supported by rising enquiry levels and expectations of a recovery in downstream demand. The recent pick-up in market enquiries signals improving buying interest, which could translate into sizable bookings if the momentum sustains. Overall market sentiment is likely to improve; however, the extent of any price recovery will largely depend on raw material trends and the pace of recovery in end-user demand.