India: ERW patra pipe prices fall to nearly 2-month low amid weak demand, lower input costs

• Trade activity remains need-based as buyers stay cautious
  
  
• Raw material uptick from recent lows lifts demand towards weekend
  
  

ERW patra pipe prices (41-60 mm OD) declined w-o-w on 15 May 2026 in both Raipur and Mandi Gobindgarh, driven by lower raw material prices and subdued downstream demand.

However, on a d-o-d basis, prices edged up in both markets. In Raipur, prices rose by INR 100/t to INR 44,800/t ex-works (exw) on 15 May from INR 44,700/t on 14 May. Similarly, prices in Mandi Gobindgarh increased by INR 300/t d-o-d to INR 45,900/t exw on 15 May from INR 45,600/t a day earlier. Listed prices are ex-works and exclude 18% GST.

Weekly price trends

Raipur: ERW patra pipe prices in Raipur dropped by INR 700/t w-o-w to INR 44,800/t exw Raipur on 15 May, compared with INR 45,500/t on 8 May 2026. Overall demand remained subdued through most of the week, with limited bookings heard as buyers stayed cautious amid falling prices and deferred purchases in anticipation of further declines. However, market sentiment improved in the latter half of the week, supported by a modest uptick in buying activity, largely driven by a rebound in raw material prices from recent lows.

Mandi Gobindgarh: ERW patra pipe prices in Mandi Gobindgarh declined by INR 900/t w-o-w to INR 45,900/t exw on 15 May from INR 46,800/t a week earlier. The correction was primarily driven by persistently weak underlying demand, with enquiries remaining subdued through most of the week and activity largely limited to need-based purchases. Sentiment, however, showed some improvement towards the end of the week.

A source stated, "Prices have been declining consecutively, with buyers largely remaining on the sidelines amid persistently weak demand conditions. Although constraints such as scrap tightness and tighter labour availability persisted in the market, they were insufficient to offset the broader softness in consumption and failed to provide any meaningful price support. A marginal pickup in buying activity was observed towards the latter half of the week, though demand conditions have yet to show a sustained recovery and the broader market still remains cautious."

Raw material prices

HR strip (patra): HR strip (patra) prices in Raipur dropped by INR 800/t w-o-w to INR 44,200/t exw on 15 May from INR 45,000/t exw on 8 May 2026. Similarly, patra prices in Mandi Gobindgarh declined by INR 900/t w-o-w to INR 44,900/t exw from INR 45,800/t a week earlier.

Billet: Billet prices in Raipur declined by INR 800/t w-o-w to INR 40,050/t exw on 15 May compared with INR 40,850/t in the previous week. Moreover, billet prices in Mandi Gobindgarh stood at around INR 43,800/t DAP, down by INR 600/t w-o-w from INR 44,400/t on 8 May 2026.

Outlook

ERW patra pipe prices are expected to remain under pressure in the coming week amid persistently weak demand and cautious buying activity. Although sentiment improved marginally later in the week, it was driven mainly by short-term precautionary purchases rather than a sustained pickup in consumption. Overall market activity is likely to remain need-based until clearer signs of demand recovery emerge.