The Indian seamless pipe market is characterized by poor consumption and consequent sluggish demand. However, Indian domestic seamless pipe prices in the local currency have remained unchanged over the past month, while the prices in US dollar terms have decreased by $10-17/mt during the same period. Export quotations have remained stable over the period under review. Meanwhile, Indian exporters are ready to discuss discounts in order to push volumes. The seamless pipe sector in India has seen lower demand from the automobile and infrastructure sectors. Market players think the Indian government needs to invest more in infrastructure projects to revive seamless pipe demand in the country.
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 55,500-57,000/mt ($928-961/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 $950-980/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 may reach INR 63,000-64,000/mt ($1,062-1,079/mt) ex-works, excluding tax. Export offers of seamless pipes from top Indian pipe producers have remained at levels of $1,100-1,140/mt FOB.
$1 = INR 59.16