India: ERW patra pipe prices decline w-o-w amid need-based trades

• Raipur’s prices stable d-o-d, Mandi sees drop
• Raw material tags drop by INR 150-400/t w-o-w

ERW patra pipe (41-60 OD) prices declined w-o-w in Raipur and Mandi Gobindgarh, as market sentiments continued to soften. Trade activities were erratic, as buyers came out only to fulfil their urgent requirements.

W-o-w price trends

Raipur: Prices fell by INR 300/tonne (t) w-o-w to INR 40,200/t on Friday against INR 40,500/t a week ago. Trade volumes of around 2,770 t were recorded this week.

Mandi: Prices declined by INR 400/t w-o-w to INR 43,500/t on 18 July against INR 43,900/t on 11 July. Trade activities for around 2,470 t were recorded this week.

D-o-d price trends

D-o-d, prices remained unchanged in Raipur on 18 July at INR 40,200/t. Meanwhile, prices in Mandi Gobindgarh dropped by INR 100/t d-o-d as against INR 43,600/t a day ago. Listed prices are ex-works (exw), excluding 18% GST.

Raw material price impact

Prices of key raw materials such as hot-rolled strips (patra) and billets softened in both Raipur and Mandi.

HR strip (patra) prices inched down by INR 400/t w-o-w to INR 39,900/t exw-Raipur as on 18 July against INR 40,300/t last week. Patra prices edged down by the same quantum to INR 42,600/t exw-Mandi as on 18 July against INR 43,000/t last week.

Steel billet prices in Raipur eased by INR 150/t to INR 36,700/t exw on 18 July, compared to INR 36,850/t on 11 July. Additionally, billet prices in Mandi recorded a drop of INR 300/t w-o-w to INR 40,200/t DAP on 18 July compared to INR 40,500/t last week.

Outlook

ERW patra pipe prices are likely to remain range-bound amid sluggish demand and declining raw material costs. Additionally, market sentiments and activities are likely to remain the same in light of buyers coming out to procure only when the need arises.