Ms Erw Square Hollow Section (YST 210) 100x100x4mm in Hosur

Flat steel prices are stable today after a reduction of up to Rs 1,000/ton. Demand for Hot Rolled plates has dropped, impacting construction and automotive sectors. JSW Steel’s July 2024 production rose by 9%, but a negative spread between HRC and rebar prices signals a bearish market outlook.

Flat steel markets reported no price changes except in the southern region, where prices dropped by Rs 500-1,000/ton. HRC demand has decreased due to weakened local demand and increased imports. Indian HRC producers reduced prices to remain competitive.

Pipe prices remain stable, with 100mm K7 DI pipes priced at Rs.1360-1380 and ERW at Rs. 56,000/ton. Post-monsoon demand for pipes is increasing, driven by government infrastructure projects. Meanwhile, Welspun has invested USD 100 million to expand its pipe portfolio, while Indian Hume Pipe won an INR 859 crore order for a water distribution network in Maharashtra.

Prices for 100mm K7 DI Pipes range from Rs. 1340 to Rs. 1380, while ERW pipes stand at Rs. 55,000/ton (ex Raipur). Rising tariffs on imports from China and Vietnam could push pipe prices higher. Meanwhile, manufacturers are accepting large orders with reduced margins to maintain operations.

Pipe prices are seeing significant movement, with 100mm K7 DI pipes priced at Rs 1,340 and Rs 1,380, and ERW at Rs 55,000 per ton. Demand has surged recently, driven by government spending on the Jal Jeevan Mission, which is expected to exceed Rs 50,000 Cr in FY25.

Pipe market for both ERW pipes and DI pipes remains stable with no signs of price changes in the near future. Furthermore, potential download pressure is anticipated in the short term.

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.

DI pipe prices from all manufacturers rise to Rs. 1,340-1,380 within an 800-mile radius, owing to high demand and overbooking. At the same time, ERW prices have dropped further to Rs. 55,000/ton amid low demand and decreasing costs of raw materials.

MS ERW pipe market shows a noticeable increase in the prices in the secondary market. The current prices of ERW pipes start at Rs. 56,500 per ton for secondary brands. Check more details on the latest pipe prices and market insights below.