India: Major ERW pipe manufacturer rolls over list prices for Jul'26 sales

• Need-based buying keeps ERW pipe market largely stable
  
  
• Range-bound HRC prices support stable ERW pipe market sentiment
  
  

A major producer of ERW pipes, specialising in hot-rolled coil (HRC)-based products, has rolled over their list prices of round pipes of its base grade (25-125 NB, 2.2-6 mm) across various locations for July 2026 sales against June sales, BigMint learnt from sources.

List prices stood at INR 62,000/t ($650/t) exy-Raipur, INR 64,000/t ($671/t) exy-Pune, and INR 64,000/t ($671/t) exy-Delhi, all excluding 18% GST. The revised prices are effective from 1 July.

A market participant told BigMint, "Prices were unchanged due to the stability in HRC prices during the previous month. Mills are also facing concerns over both margins and sales currently."

Market updates

Distributor-level monthly average prices of ERW pipes in Raipur dropped by INR 2,700/t ($28/t) m-o-m to INR 61,400/t ($644/t) in June compared with INR 64,100/t ($672/t) in the previous month.

Distributor-level monthly average prices of ERW pipes in Pune decreased by INR 1,900/t ($20/t) m-o-m to INR 62,800/t ($658/t) in June compared with INR 64,700/t ($678/t) in the previous month.

Market activity remained low-to-moderate during June, with buying largely confined to immediate requirements as participants adopted a cautious procurement approach. Weak liquidity and ongoing financial constraints continued to influence purchasing decisions, while subdued demand kept trading volumes under pressure across most markets.

A market participant told BigMint, "Demand remains relatively stable, with trading activity continuing at a steady pace across various regions. However, financial constraints and tight liquidity are putting pressure on overall market activity."

Trade-level HRC prices remain rangebound

BigMint's benchmark assessment (bi-weekly) for HRC (IS2062, Gr E250, 2.5-8 mm/CTL) prices marginally dropped by INR 200/t ($2/t) m-o-m to INR 58,300/t ($611/t) on June against INR 58,500/t ($613/t) in May.

India's trade-level HRC market remained range-bound during the month as subdued demand and limited buying interest kept trading activity muted. Purchases were largely need-based as buyers avoided restocking amid expectations of a possible price correction, upcoming mill price announcements, and the onset of the monsoon. While a maintenance shutdown at an eastern India-based mill slightly tightened regional supply, sluggish consumption and liquidity constraints kept the market stable.

Outlook

The ERW pipe market is expected to remain stable in the near term, supported by range-bound HRC prices. Buying is likely to remain need-based as the monsoon, weak liquidity, and subdued demand continue to weigh on market sentiment. Any significant movement in HRC prices or a post-monsoon demand recovery could influence ERW pipe prices in the coming weeks.