Trading is still generally slow in the Indian welded pipe market. However, Indian welded pipe producers have raised their offers for local buyers by around INR 500-1,000/mt ($14-24/mt) over the past two weeks on the back of gradually recovering demand at some locations, while export prices have moved up by $10/mt following an increase in domestic quotations. Demand in the Indian welded pipe market is expected to revive in February as construction activity traditionally picks up after the winter.
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 42,500-44,000/mt ($692-717/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 ($782-814/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $700-730/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 $790-830/mt FOB.
$1 = INR 61.26