India: ERW patra pipe prices fall to nearly 3-month low on continued weak demand

• Continued price corrections keep buyers cautious, weigh on trading activity
• High inventories, falling raw material prices dampen market sentiment

ERW patra pipe prices (41-60 mm OD) declined w-o-w on 22 May 2026 in both Raipur and Mandi Gobindgarh, driven by persistent weakness in downstream demand and falling raw material prices.

On a d-o-d basis as well, prices edged down in both markets. In Raipur, prices fell by INR 300/t d-o-d to INR 43,700/t ex-works (exw) on 22 May from INR 44,000/t on 21 May. Similarly, prices in Mandi Gobindgarh dropped by INR 300/t d-o-d to INR 44,800/t exw on 22 May from INR 45,100/t the day before. Listed prices are ex-works and exclude 18% GST.

Weekly price trends

Raipur: ERW patra pipe prices in Raipur declined by INR 1,100/t w-o-w  to INR 43,700/t exw on 22 May, compared with INR 44,800/t on 15 May. Overall demand remained weak throughout the week, with market participants reporting limited enquiries and subdued buying interest.

A Raipur-based source said, “Pipe prices are expected to remain on a downward trend in the coming days, as ongoing corrections continue to keep buyers cautious and weigh on trading activity. Labour availability still remains tight due to extreme heat conditions, while overall market sentiment stays subdued. Additionally, the onset of the monsoon season is likely to further dampen trading activity, leaving the overall market outlook weak and highly uncertain.”

Mandi Gobindgarh: ERW patra pipe prices in Mandi Gobindgarh fell by INR 1,100/t w-o-w to INR 44,800/t exw on 22 May, compared with INR 45,900/t a week ago. A Mandi-based source indicated that, “the market continued to face sustained pressure from weak demand conditions, with buyers largely staying inactive and adopting a wait-and-watch stance amid expectations of further price softness, which has significantly reduced fresh booking activity.”

As a result, inventories have built up to elevated levels, while liquidity constraints have tightened working capital conditions for many, further weighing on overall market sentiment. On the supply side, tight scrap and labour availability continues to persist.

Another regional source stated, “Prices are expected to edge downward in the coming days, while any meaningful recovery in buying interest is likely to emerge only once prices stabilise for a few consecutive days, which would help rebuild confidence and support trading activity.”

Raw material prices

HR strip (patra): HR strip (patra) prices in Raipur fell by INR 1,000/t w-o-w to INR 43,200/t exw on 22 May from INR 44,200/t exw on 15 May. Similarly, patra prices in Mandi Gobindgarh declined by INR 1,100/t w-o-w to INR 43,800/t exw from INR 44,900/t a week earlier.

Billet: Billet prices in Raipur dropped by INR 1,250/t w-o-w to INR 38,800/t exw on 22 May compared with INR 40,050/t the previous week. Moreover, billet prices in Mandi Gobindgarh stood at around INR 42,500/t DAP, down by INR 1,300/t w-o-w from INR 43,800/t on 15 May.

Outlook

ERW patra pipe prices are expected to remain under pressure in the coming week amid persistently weak demand, elevated inventories, and cautious buying behaviour. Trade activity is likely to remain largely need-based until prices show signs of stability. Overall market sentiment remains weak, with price direction largely dependent on raw material trends and the pace of recovery in end-user demand.