India: ERW patra prices show mixed trends, demand remains subdued
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ERW patra pipe (41-60 OD) prices showed a mixed trend w-o-w in both Raipur and Mandi Gobindgarh. Raipur saw a slight increase in pipe prices this week, while in Mandi prices fell compared to the last week. However, demand for ERW patra pipes weakened in both markets compared to the last week. In addition, prices dropped by INR 300/t d-o-d in Raipur and INR 200/t in Mandi Gobindgarh on 23 August.
Current prices are INR 41,900/t in Raipur and INR 44,100/t in Mandi Gobindgarh. Listed prices were ex-works (exw), excluding 18% GST.
Weekly average prices:
Patra pipe prices went up this week in Raipur, while Mandi experienced a price drop compared to the last week.
Raipur: Prices increased by INR 200/t w-o-w on Friday to INR 41,900/t from INR 41,700/t on 16 August. The steel market in Raipur experienced a volatile week. Prices saw an upward trend at the beginning of the week but declined mid-week and remained subdued till the end of the week. Additionally, prices surged w-o-w, primarily driven by an increase in raw material costs.
Mandi: Prices dropped by INR 200/t w-o-w to INR 44,100/t on Friday from INR 44,300/t last week. The patra-based pipe market in Mandi Gobindgarh remained sluggish this week due to weak overall demand. Buyers adopted a cautious approach, purchasing only essential quantities to meet immediate needs.
Raw material price impact:
HR strip (patra) prices increased by INR 400/t w-o-w to INR 41,400/t exw Raipur on 23 August. However, patra prices in Mandi dropped by INR 200/t w-o-w to INR 43,100/t as against INR 43,300/t last week.
Billet prices in Raipur increased by INR 200/t to INR 38,500/t exw w-o-w on Friday. However,, billet prices in Mandi went down by INR 100/t w-o-w to INR 41,700 exw compared to INR 41,800/t last week.
Outlook:
The ERW patra pipe market is expected to remain volatile in the near term. While prices might see some fluctuations based on raw material costs and demand, the overall trend is likely to be subdued.
