India: ERW patra pipe prices fall w-o-w on lower input costs, weak demand

• Weak demand and falling raw material costs weigh on prices
  
  
• Market remains uncertain; buyers await further corrections
  
  

ERW patra pipe prices (41-60 mm OD) declined w-o-w on 17 April 2026 in both Raipur and Mandi Gobindgarh, driven by a fall in raw material prices, coupled with weak downstream demand.

Trade activity across both the regions remained largely need-based amid subdued end-user demand throughout the week. Persistent price corrections kept buyers cautious, resulting in a wait-and-watch approach among participants.

On a d-o-d basis as well, prices edged lower in both markets. In Raipur, prices declined by INR 400/t to INR 46,500/t ex-works (exw) on 17 April from INR 46,900/t on 16 April. Similarly, prices in Mandi Gobindgarh fell by INR 400/t d-o-d to INR 49,200/t exw on 17 April from INR 49,600/t a day earlier. Listed prices are ex-works and exclude 18% GST.

Weekly price trends

Raipur: Pipe prices in Raipur dropped by INR 800/t w-o-w to INR 46,500/t exw Raipur on 17 April, compared with INR 47,300/t on 10 April 2026, as persistently sluggish demand continued to weigh on prices. Buying interest remained subdued, as most participants stayed on the sidelines anticipating further softness in prices. Overall market sentiment remained cautious, with procurement activity restricted to immediate, need-based requirements. A BigMint source indicated towards the end of the week that, prices are likely to remain under pressure in the coming days, as demand conditions show no meaningful signs of recovery and the downtrend in buying momentum persists.

Mandi Gobindgarh: Pipe prices in Mandi Gobindgarh declined by INR 1,300/t w-o-w to INR 49,200/t ex-works (exw) on 17 April from INR 50,500/t a week earlier. Despite reduced spot offers, buying interest remained subdued, with limited enquiries reported amid subdued demand conditions. Market sentiment remained mixed, with significant uncertainty prevailing around the price direction as some participants do not expect any significant downside in prices while others forsee continued correction. Overall, weak demand and elevated supply kept pipe prices under pressure during the week.

Raw material prices

HR strip (patra): HR strip (patra) prices in Raipur dropped by INR 800/t w-o-w to INR 45,800/t exw on 17 April from INR 46,600/t exw on 10 April 2026. Similarly, patra prices in Mandi Gobindgarh declined by INR 1,300/t w-o-w to INR 48,200/t exw, down from INR 49,500/t a week earlier.

Billet: Billet prices in Raipur fell by INR 1,050/t w-o-w to INR 41,900/t exw on 17 April, compared with INR 42,950/t in the previous week. In Mandi Gobindgarh, billet prices stood at INR 45,500/t DAP, down by INR 1,050/t w-o-w from INR 46,550/t DAP on 10 April.

Outlook

We expect ERW patra pipe prices to remain under pressure in the coming week, as continued weakness in downstream demand and cautious, need-based procurement are likely to limit any meaningful upward movement. Market sentiment, however, remains mixed, with the near-term price direction largely dependent on raw material trends and the pace of recovery in end-user demand.