Indian welded pipe producers are still facing feeble demand from all buyers. Domestic quotations of ERW pipes from Indian producers have gone down by around INR 1,000/mt ($34-37/mt) over the past two weeks amid weak buying activity, while export offers of welded pipes from India have remained stable.
Market operators concede that welded pipe prices may dip further in the Indian market, considering falling raw material quotations, the global downward trend and no signs of any significant growth in demand.
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 38,000-40,000/mt ($689-725/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 44,000-46,000/mt ($797-834/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $700-740/mt FOB on theoretical weight basis. Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $780-820/mt FOB.