The seamless pipe market in India has strengthened a little over the past month against the background of the improved performance of the power, infrastructure, and oil and gas sectors in the country. The lower end of the domestic price range has increased by INR 2,000/mt ($45/mt) during the past month, while export quotations have risen by $10-20/mt over the same interval. As regards the coming period, market players see an improvement of the economic perspectives in India and anticipate a strong recovery in the Indian market.
Domestic quotations of locally produced seamless pipes 2"-6" grade B made to ASTM A106 are at around INR 47,000-49,000/mt ex-works ($1,010-1,050/mt) on theoretical weight basis, excluding tax. Domestic offers of 8"-10" seamless pipes are at about INR 49,000-50,000/mt ex-works ($1,050-1,070/mt), while 12"-14" pipes are at INR 54,000-57,000/mt ex-works ($1,160-1,220/mt).
The majority of export offers of Indian seamless pipes 2"-10" grade B as per ASTM A106 are standing at around $970-1,000/mt FOB. Meanwhile, export quotations of the same pipes, 2"-4", from top Indian pipe producers are at the level of $1,060-1,100/mt FOB.
Current quotations of Chinese seamless pipes 1"-6" grade B made to ASTM A106/API 5L are at $710-740/mt C&F India on theoretical weight basis.