Buying activity in the Indian welded pipe market has remained rather slow due to limited purchases by end-users. However, domestic quotations of Indian welded pipes have stayed unchanged over the past two weeks, while export offers have gone down by $5-10/mt amid stiff competition in the international market. Market insiders believe business activity is unlikely to rally in the Indian welded pipe market in the short term as demand from consuming industries has failed to impress, while overseas buyers indicate just a little movement.
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 34,000-36,000/mt ($532-563/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 40,000-42,000/mt ($626-657/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $575-590/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 $670-690/mt FOB.
$1 = INR 63.9