- HR strip prices steady, billet prices mixed across regions
- Trade activity remains slow, largely need-based
ERW patra pipe prices (41-60 mm OD) showed mixed trends in the week ended 20 March 2026 in both Raipur and Mandi Gobindgarh. While prices in Raipur declined w-o-w, prices in Mandi Gobindgarh remained unchanged w-o-w, reflecting divergent raw material movements across the regions.
Trade activity in both regions remained largely restricted to immediate need-based procurement, reflecting a cautious stance among buyers as buying interest and enquiries continued to remain limited.
However, on a d-o-d basis, prices inched up in both the markets. Raipur prices rose by INR 100/t d-o-d to INR 45,300/t ex-works (exw) on 20 March from INR 45,200/t exw on 19 March, and prices in Mandi Gobindgarh increased by INR 300/t d-o-d to INR 47,300/t exw on 20 March compared with INR 47,000/t exw a day earlier. Listed prices are ex-works and exclude 18% GST.
Weekly price trends
Raipur: Pipe prices in Raipur inched down by INR 100/t w-o-w to INR 45,300/t exw Raipur on 20 March, compared with INR 45,400/t on 13 March 2026. Market sentiment remained subdued throughout the week, as persistent weakness in downstream demand weighed on trade activity. However, toward the end of the week, participants turned cautiously optimistic, anticipating a gradual recovery in demand and a potential improvement in trading activity in the coming days, supported by a slight pickup in enquiries.
Mandi Gobindgarh: Pipe prices in Mandi Gobindgarh remained stable w-o-w at around INR 47,300/t exw Mandi Gobindgarh on 20 March, following some volatility earlier in the week. Buying interest and enquiries remained limited throughout the week, reflecting subdued downstream demand. A BigMint source indicated that, “prices are expected to remain on the higher side in the coming days, supported by elevated raw material costs. While persistently weak demand may limit any significant upside, firm input costs are likely to provide downside support, preventing any meaningful decline and keeping the overall trend on the higher side.”
Raw material prices
HR strip (patra): HR strip (patra) prices in Raipur remained stable w-o-w at around INR 44,800/t exw on 20 March. Similarly, patra prices in Mandi Gobindgarh also held steady w-o-w at INR 46,300/t on 20 March 2026.
Billet: Billet prices in Raipur dropped by INR 150/t w-o-w to INR 41,700/t exw on 20 March, compared with INR 41,850/t in the previous week. However, billet prices in Mandi Gobindgarh stood at INR 44,300/t DAP, up by INR 50/t w-o-w from INR 44,250/t on 13 March.
Outlook
ERW patra pipe prices are expected to edge slightly higher in the coming week, supported by relatively firm raw material costs. Overall, prices are likely to remain on the higher side, with no sharp correction anticipated. However, the sustainability of this trend will depend largely on the pace of demand recovery and the direction of input costs.
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