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India: ERW patra prices show mixed trends in key markets

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BigMint Bureau

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18 May 2024, 13:11 IST

India: ERW patra prices show mixed trends in key markets

ERW patra pipe (41-60 OD) prices showed mixed trend w-o-w in both Raipur and Mandi Gobindgarh. Raipur saw prices rising this week, while Mandi prices fell compared to last week. However, prices inched up by INR 200/t d-o-d on 17 May in Raipur and Mandi Gobindgarh.

Current steel prices are INR 48,000/t in Raipur and INR 49,000/t in Mandi Gobindgarh. Listed prices are ex-works (exw), excluding 18% GST.

Weekly prices:

Raipur saw a price hike this week, while the mandi experienced a price drop compared to last week.

Raipur: Prices rose by INR 300/t w-o-w on Friday to INR 48,000/t from INR 47,700/t on 10 May. Trade volumes of around 10,500 t were recorded for patra pipes in Raipur this week. Increase in trading activities was seen in Raipur, due to a surge in finished steel demand.

Mandi: Prices dropped INR 500/t to INR 49,000/t on Friday from INR 49,500/t, a week ago. Trades in patra-based pipes were around 3,000 t this week.

Demand rises w-o-w:

Steel demand rose this week, reversing last week's decrease in demand for both finished and semi-finished products.

Pipes prices in Raipur increased due to rising demand, leading to improved trading activity. In contrast, Mandi saw a slight uptick in demand and trading activity due to a decline in pipe prices.

The increase in trade volumes across Raipur and Mandi suggests positive increase in buying activity.

Raw materials price impact:

HR strip (patra) prices increased by INR 400/t w-o-w to INR 47,600/t exw Raipur as on 17 May compared to INR 47,200/t exw Raipur on 10 May. However, patra prices in Mandi dropped INR 500/t w-o-w to INR 48,000/t as against INR 48,500/t a week ago.

Billet prices in Raipur went up w-o-w by INR 300/t to INR 44,800/t exw Raipur on 17 May. However, billet prices in Mandi went down by INR 200/t w-o-w to INR 47,000 exw today compared to INR 47,200/t last week.

Outlook:

Overall, demand for ERW patra pipes seems to be picking up, which could lead to stable or slightly higher prices in the near term. However, regional variations and raw material price fluctuations are likely to continue to influence the market.