- Raipur prices hit 11-month high but decline later
- Buyers stay cautious amid rapid price fluctuations
ERW patra pipe prices (41-60 mm OD) showed mixed trends across key regions in the week ended 13 March 2026. While prices in Raipur declined w-o-w, prices in Mandi Gobindgarh rose, reflecting divergent raw material movements across the regions.
However, on a d-o-d basis, prices declined in both markets. Raipur prices fell by INR 300/t d-o-d to INR 45,400/t ex-works (exw) on 13 March from INR 45,700/t exw on 12 March, and prices in Mandi Gobindgarh decreased by INR 200/t d-o-d to INR 47,300/t exw on 13 March compared with INR 47,500/t exw a day earlier. Listed prices are ex-works and exclude 18% GST.
Overall market sentiment remained subdued throughout the week, with buying activity staying weak amid ongoing uncertainties surrounding the Iran-US conflict and sharp volatility in prices.
W-o-w price trends
Raipur: Pipe prices in Raipur inched down by INR 100/t w-o-w to INR 45,400/t ex-works (exw) Raipur on 13 March, compared with INR 45,500/t on 6 March, after touching a 11-month high during the week. The sharp volatility in prices was primarily driven by strong raw material movements, as HR strip (patra) and billet prices also hit 11-month highs during the week. Overall demand remained weak throughout the week, with only limited buying activity reported around the middle of the week, as buyers adopted a cautious stance amid sharp price volatility.
Mandi Gobindgarh: Pipe prices in Mandi Gobindgarh rose by INR 300/t w-o-w to INR 47,300/t ex-works (exw) Mandi Gobindgarh on 13 March, from INR 47,000/t a week earlier. Prices strengthened during the early part of the week, supported by firm raw material trends and uncertainties linked to the ongoing US-Iran conflict. However, despite the rise in prices, buying interest did not pick up meaningfully as typically observed during an upward price trend. Market participants noted that enquiries remained limited and overall demand showed little improvement.
Prices corrected slightly later in the week, which led to some buying interest emerging at lower levels, though the improvement remained marginal. Overall market sentiment remained cautious, with buyers uncertain about the market direction amid rapid price fluctuations and largely adopting a wait-and-watch approach until clearer trends emerge.
Raw material prices
HR strip (patra): HR strip (patra) prices in Raipur inched down by INR 200/t w-o-w to INR 44,800/t exw on 13 March from INR 45,000/t exw on 6 March. In contrast, patra prices in Mandi Gobindgarh rose by INR 300/t w-o-w to INR 46,300/t exw on 13 March from INR 46,000/t a week earlier.
Billet: Billet prices in Raipur dropped by INR 300/t w-o-w to INR 41,850/t exw on 13 March, compared with INR 42,150/t in the previous week. In Mandi Gobindgarh, billet prices stood at INR 44,250/t DAP on 13 March, down by INR 50/t w-o-w compared with INR 44,300/t DAP a week earlier.
Outlook
ERW patra pipe prices may remain on the higher side in the coming week, supported by firm raw material trends. However, with overall buying activity remaining subdued, the sustainability of higher prices will depend on any meaningful improvement in demand and broader market developments. Market participants will remain cautious amid ongoing geopolitical uncertainties, which are likely to continue influencing sentiment, raw material movements, and purchasing decisions in the week ahead.
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