- HR strip, billet prices decline w-o-w
- Trading remains slow, largely need-based
ERW patra pipe prices (41-60 mm OD) declined in the week ended 27 February 2026 in both Raipur and Mandi Gobindgarh. The drop was primarily driven by lower raw material costs and sluggish downstream demand, which weighed on overall market sentiment. Trading activity in both regions remained largely need-based, as weak end-user demand continued to limit buying interest.
On a d-o-d basis, Raipur prices remained stable at INR 43,000/t ex-works (exw) on 27 February. However, prices in Mandi Gobindgarh declined by INR 400/t d-o-d to INR 45,000/t exw on 27 February compared with INR 45,400/t exw a day earlier. Listed prices are ex-works and exclude 18% GST.
Weekly price trends
Raipur: Pipe prices in Raipur dropped by INR 200/t w-o-w to INR 43,000/t exw Raipur on 27 February, compared with INR 43,200/t on 20 February. Market participants indicated that buyers are staying on the sidelines amid the ongoing price correction. Sentiment remains cautious, with expectations of further price corrections discouraging bulk procurement, keeping overall trading activity subdued and largely need-based.
Mandi Gobindgarh: Pipe prices in Mandi Gobindgarh fell sharply by INR 1,100/t w-o-w to INR 45,000/t ex-works (exw) Mandi Gobindgarh on 27 February, from INR 46,100/t a week earlier. Market participants stated that, “Despite reduced spot offers, buying interest remained subdued with very limited enquiries, as demand continued to remain weak. Buyers have largely adopted a wait-and-watch stance amid the ongoing price correction. Trading volumes are expected to improve meaningfully only after the Holi festival, as market participants shift into holiday mode, while prevailing price uncertainty continues to weigh on purchasing decisions.”
Raw material prices
HR strip (patra): HR strip (patra) prices in Raipur dropped by INR 200/t w-o-w to INR 42,400/t exw on 27 February from INR 42,600/t exw on 20 February. Meanwhile, patra prices in Mandi Gobindgarh fell sharply by INR 1,100/t w-o-w to INR 44,000/t exw, down from INR 45,100/t a week earlier.
Billet: Billet prices in Raipur fell by INR 800/t w-o-w to INR 39,750/t exw on 27 February, compared with INR 40,550/t in the previous week. In Mandi Gobindgarh, billet prices stood at INR 42,900/t DAP, down by INR 900/t w-o-w from INR 43,800/t on 20 February.
Outlook
ERW patra pipe prices may gradually improve post-Holi, supported by expectations of improved market participation and a pickup in buying activity across the regions. Trading momentum will depend on how demand evolves after the holidays, while any meaningful price recovery will largely hinge on raw material trends and the pace of end-user demand revival.
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