- ERW pipe list prices jumped by INR 2000/t for early-April’26 sales
- Market volatility persists as demand-supply imbalance continues
A leading Indian ERW pipe manufacturer, specialising in hot-rolled coil (HRC)-based products, has increased list prices of its base-grade pipes (25-125 NB, 2.2-6 mm) by INR 2,000/t ($21/t) across various locations for early-April 2026 sales compared with March 2026, market participants told BigMint. The fluctuation in prices was seen in the month of March through repeated price revisions by the manufacturer.
Post revisions in the month, list prices reached INR 59,500/t ($632/t) exy-Raipur, INR 61,500/t ($653/t) exy-Pune and INR 61,500/t ($653/t) exy-Delhi, excluding 18% GST. The revised prices are effective from 1 April 2026.
Market update
Distributor-level monthly average prices of ERW pipes in Delhi increased by INR 730/t ($8/t) m-o-m to INR 61,780/t ($657/t) in March compared with INR 61,050/t ($649/t) in February 2026.
Distributor-level monthly average prices of ERW pipes in Pune increased by INR 1,200/t ($13/t) m-o-m to INR 59,275/t ($630/t) in March compared with INR 58,075/t ($617/t) in February 2026.
Moreover, price revisions in the month which was once dropped and then increased again lead to fluctuations in the market, making the buyers more cautious. Although market has been moving at a slower pace, with demand remaining subdued as many participants focus on clearing inventories ahead of FY’26.
One of the market participants quoted that “the continuous price rise announcements by manufacturer are done to create hype among buyers to make them cautious and regulate them for immediate buying”.
However, these rising prices are not aligned with the current demand reality, highlighting a clear disconnect in the market. At the same time, ongoing geopolitical tensions have strained raw material supplies, adding further pressure on prices and deepening concerns across the value chain.
Trade-level HRC prices rise m-o-m
M-o-m, trade-level HRC prices climbed up by INR 2,250/t ($24/t) to INR 56,000/t ($596/t) in March compared with INR 53,750/t ($572/t) in February.
The HRC market is primarily based on mill prices whereas due to the ongoing geopolitical tensions, mills are raising their domestic prices, though market is not absorbing the current uptrend in prices but somehow the pushed up price are forcing the buyers to keep operations running.
Outlook
ERW pipe prices are likely to remain volatile in the near term amid weak demand and elevated inventory levels. However, lower imports and higher HRC costs could gradually lend support to domestic ERW pipe prices in the near term if demand improves. Meanwhile, ongoing geopolitical tensions may continue to keep the market volatile.
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