The Indian welded pipe market is quiet amid the traditional downturn in business activity during summer. Domestic quotations of Indian welded pipes have remained largely unchanged over the past two weeks, while export offers have declined by $5-10/mt over the same period. In the coming month, market players do not foresee any significant changes in demand and price levels. Market participants expect domestic demand to improve beginning from mid-September, as construction projects usually resume with the end of rainy season.
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 32,500-34,000/mt ($500-522/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 39,000-40,000/mt ($600-614/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $540-560/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 $640-650/mt FOB.
$1 = INR 65.10