Activity in the Indian seamless
pipe market has remained slow. Domestic prices for seamless pipes from Indian producers have remained unchanged over the past month amid a lack of demand. However, export offers have increased by around $10/mt over the period under review following the previous increase in domestic prices and due to successful sales in some markets during the past month. However, demand in the export markets on the whole is not strong enough to support a significant price rise by Indian seamless
pipe suppliers. Meanwhile, quotations of Indian seamless pipes are not expected to weaken amid the anticipated domestic demand revival towards the end of the Indian fiscal year (ends March 31) and higher production costs.
Most offers of Indian seamless pipes of 2"-10" grade B made to ASTM A106 are being given to the local market at around INR 59,000-62,500/mt ($957-1,014/mt) ex-works on theoretical weight basis, excluding tax. The majority of export offers of Indian seamless pipes of 2"-6" Sch 40 grade B as per ASTM A106 are standing at around $1,000-1,070/mt FOB on theoretical weight basis.
Domestic quotations of 2"-4" seamless pipes of grade B made to ASTM A106 from top Indian
pipe producers are at levels of INR 65,000-68,000/mt ($1,054-1,103/mt) ex-works, excluding tax.
$1 = INR 61.66