- Trading activity remains weak amid Holi slowdown
- Concerns over raw material supply push up prices
ERW patra pipe prices (41-60 mm OD) increased in the week ended 6 March 2026 in both Raipur and Mandi Gobindgarh, supported by a rise in raw material prices. However, demand and overall trading activity remained weak, with buying interest largely subdued as most market participants adopted a cautious, wait-and-watch stance ahead of the Holi festival.
On a d-o-d basis as well, prices inched up in both the markets, with Raipur prices increasing by INR 300/t d-o-d to INR 45,500/t ex-works (exw) on 6 March from INR 45,200/t exw on 5 March and Mandi Gobindgarh prices rising by INR 100/t d-o-d to INR 47,000/t exw on 6 March compared with INR 46,900/t exw a day earlier. Listed prices are ex-works and exclude 18% GST.
W-o-w price trends
Raipur: Pipe prices in Raipur surged by INR 2,500/t w-o-w to INR 45,500/t exw Raipur on 6 March, compared with INR 43,000/t on 27 February. Trading activity started the week on a subdued note due to a slowdown ahead of the Holi festival. Midweek saw a slight pick-up as rising prices encouraged selective buying, though participants remained watchful about further movements. Activity slowed down again towards the end of the week, with sellers noting very limited enquiries. Additionally, some market participants have not yet resumed their operations after the Holi holidays. Looking ahead, market participants expect further price increases, potentially accompanied by a gradual pick-up in demand.
Mandi Gobindgarh: Pipe prices in Mandi Gobindgarh increased by INR 2,000/t w-o-w to INR 47,000/t ex-works (exw) Mandi Gobindgarh on 6 March, from INR 45,000/t a week earlier. Buying activity remained subdued throughout the week as participants were largely in holiday mode. Sellers, meanwhile, kept offers firm, anticipating a potential rise in prices in the post-festival period.
A source indicated that the sharp rise in prices, particularly towards the end of the week, was largely driven by rising concerns over potential raw material supply disruptions stemming from heightened geopolitical tensions involving the US, Israel, and Iran.
Raw material prices
HR strip (patra): HR strip (patra) prices in Raipur surged by INR 2,600/t w-o-w to INR 45,000/t exw on 6 March from INR 42,400/t exw on 27 February. Meanwhile, patra prices in Mandi Gobindgarh increased by INR 2,000/t w-o-w to INR 46,000/t exw from INR 44,000/t a week earlier.
Billet: Billet prices in Raipur surged by INR 2,400/t w-o-w to. INR 42,150/t exw on 6 March, compared with INR 39,750/t in the previous week. In Mandi Gobindgarh, billet prices stood at INR 44,300/t DAP, up by INR 1,400/t w-o-w from INR 42,900/t on 27 February.
Outlook
ERW patra pipe prices are likely to maintain an upward trend in the coming week, underpinned by rising raw material costs. While trading activity may gradually pick up with improving buying interest, market participants are expected to remain cautious amid ongoing geopolitical tensions. These uncertainties are likely to continue shaping market sentiment, influencing raw material trends, and guiding overall buying decisions in the week ahead.
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