Indian welded pipe producers have followed the recent upward price trend for flat steel products and lifted their quotations. Over the past two weeks domestic quotations of Indian welded pipes have increased by INR 2,000/mt ($30-35/mt), while export prices have risen by $60-80/mt.
Domestic quotations of 1"-6" black ERW pipes made to BS 1387 are at levels of INR 35,000-37,000/mt ($760-800/mt) ex-works on theoretical weight basis, excluding tax. Current domestic prices of 1"-6" galvanized ERW pipes made to BS 1387 or IS 1239 are in the range of INR 41,000-43,000/mt ($890-930/mt) ex-works.
Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $780-800/mt FOB. Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $880-900/mt FOB.
After registering their recent swift rise, Indian domestic prices for flat steel saw a decline last week. As a result, Indian welded pipe manufacturers do not expect to raise prices for their products in the coming period. At the same time, they will not decrease welded pipe quotations in line with coil prices, as demand and consumption are expected to increase and as trading activity in the market is expected to improve. Market insiders think that welded pipe prices will subsequently continue to strengthen until May because of higher costs and demand from the automobile and construction sectors.