- Price trends mirror divergent raw material movements
- Buyers remain cautious, awaiting clearer market direction
ERW Patra pipe prices (41–60 OD) showed mixed trends in the week ended 30 January 2026. Prices in Raipur declined w-o-w, while prices in Mandi Gobindgarh moved higher, in line with raw material price movements across the two regions.
On a d-o-d basis as well, price movements were mixed. Raipur prices fell by INR 100/t to INR 43,200/t exw on 30 January from INR 43,300/t on 29 January 2026, while prices in Mandi Gobindgarh remained stable at INR 46,500/t exw on 30 January. Listed prices are ex-works (exw) and exclude 18% GST.
Market sentiment at the beginning of the week remained cautious due to unclear price direction, with buyers largely holding back purchases amid declining prices, anticipating further downside and seeking to avoid potential losses, before sentiment improved slightly later in the week.
Weekly price trends
Raipur: Prices edged down by INR 400/t w-o-w to INR 43,200/t exw-Raipur on 30 January compared with INR 43,600/t on 23 January 2026. A BigMint source indicated towards the middle of the week that, “demand in the region remained slow, as market participants have adopted a wait-and-watch approach amid falling prices, with buying interest expected to improve once prices show stability.”
Mandi: After an early-week decline, prices in Mandi Gobindgarh rebounded to INR 46,500/t exw on 30 January, up by INR 500/t w-o-w from INR 46,000/t exw a week earlier, driven by rise in raw material prices. Trading activity in the region was recorded at around 1,300 t for the week. A BigMint source indicated towards the end of the week that, “buying interest persisted in the market; however, enquiries received were mostly for previous price levels. As prices rose meaningfully towards the end of the week, sellers were reluctant to offer at earlier rates, and demand at current levels was lower, compared with that at previous price levels.”
Raw materials prices
HR strip (patra): HR strip (patra) prices in Raipur fell by INR 200/t w-o-w to INR 42,800/t exw on 30 January 2026, from INR 43,000/t exw on 23 January. However, in Mandi Gobindgarh, patra prices rose by INR 400/t w-o-w to INR 45,400/t exw on 30 January, compared with INR 45,000/t a week ago. Trade activity of around 820 t was recorded in Mandi during the week.
Billet: Billet prices in Raipur declined by INR 200/t w-o-w to INR 40,800/t exw on 30 January, from INR 41,000/t in the previous week. In Mandi Gobindgarh, after some mixed movements during the week, prices ended stable w-o-w at around INR 44,600/t exw on 30 January 2026.
Outlook
ERW Patra pipe prices are expected to remain volatile in the coming week, as elevated raw material costs continue to support prices, but demand remains weak and cautious buying sentiment persists. Price movements will largely depend on raw material trends, and buying interest may pick up once prices show some stability. Overall, market sentiment is likely to remain mixed and cautious until demand shows meaningful improvement.
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