Activity on the quiet side in Indian welded pipe market

Friday, 21 March 2014 12:27:31 (GMT+3)   |  
       

Activity in the Indian welded pipe market has remained quiet over the past two weeks. Indian producers have managed to keep their domestic prices at the levels of two weeks ago amid stable prices for flat steel and modest demand from local buyers. Over the same period, the upper end of export prices for Indian welded pipes has remained stable, but the lower end has decreased by $10/mt due to the lack of buying activity in key export markets. However, the market remains very quite with no improvement in the transaction situation. Insiders do not expect any significant improvement in demand in the market in the near future.
 
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 43,000-45,000/mt ($703-735/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 48,000-50,000/mt ($784-817/mt) ex-works.
 
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $720-750/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 $800-850/mt FOB.
 
$1 = INR 61.048

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