India: ERW patra pipe prices drop by INR 700/t w-o-w; market reflects mixed sentiments

• Weather challenges restrict trade in Mandi
  
  
• HR strips, billet prices show mixed trends
  
  

Trade-level ERW patra pipe prices (41-60 OD) showed mixed trends w-o-w. Prices dropped by around INR 700/tonne (t) w-o-w in Raipur. However, in Mandi these closed at the previous week's levels after showing a notional increase mid-week. Demand in both cities continued to remain sluggish, while Mandi also faced some climate-related hurdles restricting trades. In addition, d-o-d, prices dropped by INR 300/t in Raipur but rose by INR 200/t in Mandi Gobindgarh on 27 December 2024.

Weekly prices:

Raipur reported a decline in prices this week, while in Mandi these remained stable compared to last week.

Raipur: Prices dropped by INR 700/t w-o-w on Friday to INR 41,000/t from INR 41,700/t on 20 December. Trade volumes of around 1,680 t were recorded this week, indicating demand slowdown.

Mandi: Prices stood at INR 44,800/t on Friday, unchanged against last week's closing.

Raw materials price impact:

HR strip (patra) prices decreased by INR 700/t w-o-w to INR 40,600/t exw-Raipur as on 27 December compared to INR 41,300/t exw-Raipur on 20 December. However, patra prices in Mandi remained stable w-o-w at INR 44,000/t.

Billet prices, on a weekly comparison, remained range-bound at INR 39,250/t exw-Raipur on 28 December. However, billet prices in Mandi went up by INR 300/t w-o-w to INR 42,600 exw-Mandi compared to INR 42,300/t last week.

Outlook

The ERW patra pipe market in India is currently experiencing a mixed trend. While Raipur witnessed a price decline, Mandi prices remained stable. Demand in both markets remains subdued. The upcoming holiday season and factors such as raw material price fluctuations, demand trends, and competitive pressures are likely to influence market dynamics in the near future.