Activity in the welded pipe market in India has remained sluggish since downstream demand has shown no sign of improvement. However, Indian pipe producers have managed to keep their domestic prices stable over the past two weeks, while they have reduced their export offers by $10-15/mt amid slack conditions in the international market. Market insiders believe demand for welded pipes in India is unlikely to show any uptick until the end of the current month due to the approach of some holidays and prices are unlikely go up, considering also the downward trend in the hot rolled coil (HRC) segment.
Domestic quotations of 1"-6" black ERW pipes made to IS 1239 or BS 1387 (light series) from Indian producers are at levels of INR 40,000-42,000/mt ($651-683/mt) ex-works, excluding tax, on actual weight basis. Current domestic prices of 1"-6" galvanized ERW pipes made to BS 1387 (light series) are in the range of INR 46,000-48,000/mt ($748-781/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $675-700/mt FOB on actual weight basis. Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $780-800/mt FOB.
$1 = INR 61.3