Activity in the Indian welded pipe market is slow amid soft demand from consuming industries. Domestic prices of welded pipes have declined by around INR 1,000/mt ($29/mt) over the past two weeks, while export offers of welded pipes from Indian producers have remained stable over the past fortnight in an inactive market. Local traders are reluctant to take the risk of stockpiling materials as activity in the market is likely to be slack in the short term. The sluggish end-user demand caused by hot weather conditions, decelerating construction activity and a labor shortage is likely to slow further during the monsoon 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 40,000-42,000/mt ($666-699/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 ($766-799/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $700-720/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 $800-830/mt FOB.
$1 = INR 59.95