ERW Pipe Prices Reduced Due to Subdued Demand
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPipes_2_886aec7ced.png&w=1920&q=100)
There are no major changes in pipe prices in the last few days. Only a minor increase has been noticed in DI pipe prices due to overbooking by suppliers. While the manufacturers of ERW pipes have reduced prices due to low demand.
Pipe Price
- No major changes in prices of pipes. The 800-mile radius and 100mm K7 grade DI pipes from all manufacturers are priced between Rs.1340 and Rs.1380 in Tata, Jai balaji & Electrotherm. This increase is attributed to overbooking by suppliers and the exceptionally high demand for smaller dia pipes, further exacerbating the supply constraints.
- The ERW manufacturer has reduced prices to Rs.55,000/t exw-Raipur, excluding 18% GST, due to subdued demand and falling raw material costs. This is a drop of Rs.4,000/t from August's Rs.59,000/t, following an earlier reduction of Rs.2,500/t in early August.
Pipe Demand & Supply
- Rungta and Rashmi DI manufacturers are operating at similar rates, with Jai Balaji, Electrotherm, Tata, and Electrosteel Casting maintaining price parity. However, demand has slowed as manufacturers await repayments, causing delays in market payments. As a result, clients are increasingly turning to unsecured credit and trying to maximize their limits, reflecting the current financial strain and uncertainty in the market.
Pipe Market News
- Goodluck India is inaugurating its state-of-the-art manufacturing facility, marking a new era of large-diameter cold-drawn welded and ERW precision steel tubes’ production.
- Larsen & Toubro’s hydrocarbon vertical has won (Significant*) offshore order from ONGC involving EPCIC of 129 km subsea pipelines.
Expert Opinion
- The reduction in prices for ERW, MS, and SAW pipes has likely reached its lowest point. Contractors are advised to make their purchases this week and stock up, as prices are expected to rise next week. Meanwhile, DI pipes are currently in abundant supply, but with demand expected to increase in the coming months, a price hike is anticipated.
Daily Market Report
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FFlat_Steel_CRC_1_e5e99d6cd6.png&w=3840&q=75)
Declining Prices Challenge India's Steel Market Outlook
Declining steel prices challenge India’s market outlook as high demand and supply issues initially drove up prices. Now, decreased demand, overproduction, and shifting global trade dynamics are causing prices to plummet. Indian steel producers face tighter margins, increased competition, and a strained export strategy. Stability and profitability are at risk.
Read Story
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FHRC_d5173e56b5.png&w=3840&q=75)
HRC Shows a Minor Price Change Due to Low Local Demand
Markets reported few price changes in HRC as compared to previous day in south geographical locations.
Read Story
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252Fpipes_pipes_0_3db4605631.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252Fms_erw_rectangular_49ac73345d.JPG&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FMS_ERW_Hollow_Section_1928359a9a.JPG&w=3840&q=75)
%2Fhttps%253A%252F%252Fnexizo.ai%252Fassets%252Fbg-png-msite.png&w=3840&q=30)