Both Raipur and Mandi Gobindgarh have experienced an increase in their ERW Patra Pipe pricing over the past week, attributed to a rise in the overall cost of raw materials. The price for Raipur ERW Patra Pipes increased ₹600/t this week to ₹39,600/t ex-work, while Mandi Gobindgarh's ERW Patra Pipe prices increased ₹400/t to ₹41,700/t ex-work.

This rise was supported by firm HR strip (patra) and billet prices, which resulted in notable gains across both markets. However, while there is an upward trend, there is still sufficient weakness within the finished steel segment to continue driving low trade activity, with most trade activity limited to specific requirements.

Outlook:

In the very near future, ERW pipe rates should remain stable or possibly increase moderately, due to the continued high cost of raw materials, including HR strips and billets. There is a belief that there will be some improvement in demand over time in the coming days, which will then stimulate trade volume and keep pricing stable next week