Despite somewhat higher domestic feedstock quotations, Indian producers have kept their welded pipe prices largely unchanged over the past two weeks on the back of sluggish demand from local customers. Export quotations of welded pipes from Indian producers have remained at the previous levels or have increased in some cases by a maximum of $10/mt over the past two weeks even though buying activity in foreign markets has been slack. However, market insiders believe that suppliers may push their prices up in the coming period as quotations of flat steel are on the rise.
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 43,000-45,000/mt ($704-737/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 48,000-51,000/mt ($786-836/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $730-750/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 $810-850/mt FOB.
$1 = INR 61.04