- Prices rise in Raipur, inch down in Mandi
- Raw material prices show mixed trends
ERW patra pipe (41-60 OD) prices showed mixed trends w-o-w in Raipur and Mandi Gobindgarh amid slow demand and weak market sentiments.
W-o-w price trends
Raipur: Prices rose by INR 400/t w-o-w to INR 40,500/t on Friday against INR 40,100/t a week ago. Trade volumes of around 2,250 t were recorded this week.
Mandi: Meanwhile, prices inched down by INR 200/t w-o-w to INR 43,900/t on 11 July against INR 44,100/t on 4 July. Trade activities for around 1,200 t were recorded this week.
ERW pipe market sentiment remained weak as prices dipped initially but later stabilised within a narrow range. Moreover, monsoon disruptions and dull end-user demand led buyers to avoid bulk bookings, opting instead for cautious and need-based purchases.
D-o-d price trends
D-o-d, prices held stable in Raipur at INR 40,500/t on 11 July. Meanwhile, prices in Mandi Gobindgarh dropped by INR 200/t d-o-d to INR 43,900/t against INR 44,100/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 showed mixed-trends w-o-w both in both Raipur and Mandi.
HR strip (patra) prices inched up by INR 300/t w-o-w to INR 40,300/t exw-Raipur as on 11 July against INR 40,000/t last week. However, patra prices in Mandi edged down by INR 100/t to INR 43,000/t exw-Raipur as on 11 July against INR 43,100/t last week.
Steel billet prices in Raipur increased by INR 250/t w-o-w to INR 36,950/t exw on compared to INR 36,700/t on 4 July. Additionally, billet prices in Mandi recorded a drop of INR 300/t w-o-w to INR 40,600/t DAP on 11 July compared to INR 40,900/t last week.
Outlook
ERW patra pipe prices are likely to remain range-bound amid sluggish demand and mixed raw material costs. Additionally, the ongoing monsoon and cautious buying are likely to keep market sentiment subdued in the near term.
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