India: Major ERW pipe producer increases list prices for early-Mar’25 sales

• Distributor-level prices up by INR 2,050/t m-o-m
• Raw material costs rise as HRC, CRC prices surge

A major Indian ERW pipe manufacturer, specialising in hot-rolled coil (HRC) based products, has increased list prices of its base-grade pipes (25-125 NB, 2.2-6 mm) by INR 2,000/tonne (t) ($23/t) for early-March 2025 sales, sources informed BigMint.

Post-revision, list prices stood at INR 59,000/t ($677/t) exw-Raipur in early-March against INR 57,000/t ($655/t) in mid-February, excluding 18% GST.

The manufacturer opted to raise its current prices, citing an increase in raw material costs and comparable offers from major ERW pipe rivals.

The manufacturer also increased prices by INR 2,000/t ($23/t) m-o-m to INR 60,000/t ($689/t) from 58,000/t ($666/t) exw, exclusive of 18% GST, in Pune and Mumbai.

Additionally, distributor-level monthly average prices of ERW pipes in Raipur went up by INR 2,050/t ($23/t) m-o-m to INR 53,750/t ($617/t) in February 2025 as compared to INR 51,700/t ($594/t) exy-Raipur in January 2025.

The revised prices for Raipur, Pune and Mumbai region will be effective from 10 March 2025.

Trade-level HRC offers increase w-o-w

Trade-level HRC prices across India increased by up to INR 1,600/t ($18/t) w-o-w to INR 48,100-50,500/t ($552-580/t). Additionally, cold-rolled coil (CRC) prices rose by up to INR 1,000/t ($11/t) w-o-w, settling at INR 54,200-58,300/t ($622-669/t) across markets. The price hike was driven primarily by material shortages and speculation regarding the imminent imposition of a safeguard duty.

Outlook

These price hikes reflect a strengthening market amid rising raw material costs and competitive pressures. Prices are expected to stay firm, with a potential for further increases if input costs continue to rise. Surging HRC and CRC prices, fuelled by supply constraints and safeguard duty speculation, are likely to be crucial in influencing ERW pipe tags.