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

• Subdued demand and falling raw material costs weigh on prices
  
  
• Market direction remains uncertain amid weak fundamentals
  
  

ERW patra pipe prices (41-60 mm OD) declined w-o-w on 24 April 2026 in both Raipur and Mandi Gobindgarh, driven by a fall in raw material prices coupled with sluggish downstream demand.

On a d-o-d basis as well, prices edged lower in both markets. In Raipur, prices fell by INR 300/t to INR 46,300/t ex-works (exw) on 24 April from INR 46,600/t on 23 April. Similarly, prices in Mandi Gobindgarh edged down by INR 400/t d-o-d to INR 47,800/t exw on 24 April from INR 48,200/t a day earlier. Listed prices are ex-works and exclude 18% GST.

Weekly price trends

Raipur: Pipe prices in Raipur dropped by INR 200/t w-o-w to INR 46,300/t exw Raipur on 24 April, compared with INR 46,500/t on 17 April 2026, amid persistently weak demand. Trade activity remained thin amid subdued end-user demand, reflecting cautious buyer sentiment. A modest pickup in trading activity was observed mid-week, providing some support to the market sentiment. However, the improvement was short-lived rather than any sustained recovery in demand. A BigMint source indicated towards the end of the week that, pipe prices are likely to remain under pressure in the coming days, as demand continues to show no meaningful signs of recovery, while caution prevails in the market.

Mandi Gobindgarh: Pipe prices in Mandi Gobindgarh declined w-o-w by INR 1,400/t to INR 47,800/t ex-works (exw) on 24 April from INR 49,200/t a week earlier. The correction was primarily driven by weak underlying demand, as buying interest and enquiries remained limited through most of the week. Market activity was largely restricted to need-based purchases, with only those buyers who had delayed procurement stepping in selectively, as noted by a market participant. Overall, market sentiment remains mixed, with some participants expecting prices to continue correcting in the coming days amid weak demand fundamentals, while others anticipate a gradual recovery supported by a potential pickup in demand, reflecting persistent uncertainty in the market.

Raw material prices

HR strip (patra): HR strip (patra) prices in Raipur dropped by INR 200/t w-o-w to INR 45,600/t exw on 24 April from INR 45,800/t exw on 17 April 2026. Similarly, patra prices in Mandi Gobindgarh declined by INR 1,400/t w-o-w to INR 46,800/t exw, down from INR 48,200/t a week earlier.

Billet: Billet prices in Raipur remained volatile throughout the week but closed higher w-o-w at around INR 42,050/t exw on 24 April, up by INR 150/t from INR 41,900/t on 17 April. In contrast, in Mandi Gobindgarh, prices declined by INR 500/t w-o-w to INR 45,000/t DAP on 24 April from INR 45,500/t DAP on 17 April 2026.

Outlook

ERW patra pipe prices are expected to remain under pressure in the coming week, as weak downstream demand continues to keep market activity largely need-based, restricting any meaningful upward movement in prices. While labour shortages in Raipur and tight scrap availability in Mandi Gobindgarh are creating some operational friction, these factors are not sufficient to meaningfully offset subdued demand conditions. With raw material prices also easing, the market may either witness a mild correction or continue to move in a narrow range. However, overall sentiment remains mixed, with near-term price direction uncertain and likely to dependent on raw material trends and the pace of recovery in end-user demand.